Smith Hopes Treaties Decision Will Ease MAI Fears

Trade Minister Lockwood Smith has welcomed the announcement by Foreign Minister Don McKinnon that treaties will now be considered by parliament saying the more open system should ease irrational concerns about the OECD's proposed Multilateral Agreement on Investment (MAI).

"It has been unfortunate that the debate over the MAI has been coloured by claims that the Government was seeking to bind future administrations with the MAI's pull out provisions without reference to parliament," Dr Smith said.

"Now that this separate issue has been dealt with, debate should shift to the merits of the MAI in helping to secure job growth.

"Any parliamentary debate on the MAI will provide a forum for the Government to promote New Zealand's need for investment from overseas to create jobs and raise our living standards."