Woolerton R Doug: International Finance Agreements Amendment Bill — First Reading 
Woolerton R Doug: International Finance Agreements Amendment Bill — First Reading 
[Volume:639;Page:9090] 
R DOUG WOOLERTON (NZ First) 
: 
 New Zealand First will likewise be supporting the Multilateral Investment Guarantee Agency. We will also be supporting the International Finance Agreements Amendment Bill going to the select committee and we look forward to its progress. 
As the two previous speakers—Dr Lockwood Smith and Dr Cullen—said it is important that we participate in agencies such as the Multilateral Investment Guarantee Agency that we participate in giving aid to developing countries and that we participate in giving not only monetary aid but also humanitarian and technical aid to countries that have fallen on hard times. Some of those countries are in the Pacific and we can think of one or two of them—Fiji among them—where we know for sure that something will have to be done in the future. It would be surprising to us all I am sure if those countries were to go ahead in their present circumstances. So we will have to come to their aid. 
But over and above the aid that other countries will give to those countries is the long-term direct investment that private individuals or corporations put into them. Of course that is the money those countries really want. This treaty is all about ensuring that there is less risk for private individuals or corporations when they invest in countries—be they countries that are war-torn countries that have been taken over by perhaps a less than ideal democratic system or countries that are just developing. 
When we read through the papers we see that in those countries things like clean water good roading and electricity—all of the absolute basics that we take for granted—are what they want people to invest in and they are trying to facilitate private investment coming through. We applaud that because that is the best sort of investment. Those investors will ensure that their money goes into productive enterprises because it is only from such enterprises that they will get a decent long-term return. 
I think it is important that people understand why we give aid to other countries. I am often called upon to explain this to people. Some people attack me or come to see me on a regular basis and ask me why we are giving all this money to other countries when here in New Zealand hip replacements are needed and hospitals need money etc. Of course the answer is to ask them whether they want all those people in the other countries to come to New Zealand. Of course they do not and New Zealand First makes a bit of an issue about that. So it is in our interests to make sure that we help people in their own country. We say there should be heaps of that help and that people are better off in their own country. We can help them and this project ensures that that can happen. 
The other area that interests me particularly—because of my interest in primary production—is the exporting area. We simply cannot sell the sorts of products we sell to countries that are in poverty. It is in our interests—as Dr Lockwood Smith and Dr Cullen said before me—for those countries to have modern-day infrastructures and living standards and to see them rise up to the standards where they can afford the sorts of things we call primary produce. In countries that are in poverty primary produce—as far as food items are concerned—is very close to being a luxury item. 
New Zealand First absolutely applauds this legislation. We look forward to it going to the select committee and to hearing what the committee has to say about it. I cannot see that the select committee will have too many problems with the legislation and I am sure it will come out the other side. To those people who object to 10 percent of the subscription being paid in cash or even to the total of $9 million going towards the entry fee for the Multilateral Investment Guarantee Agency I say that that is a very very small price indeed for stability and for emerging markets into which we can sell our produce.