[PEN-L:11046] FWD: MAI in New Zealand's Budget (fwd)

[D Shniad <shniad@xxxxxx>]

> FORWARDED MESSAGE from Philip Lyth (PHILIP@SMTP
> {Philip.Lyth@xxxxxxxxxxxxxxxxxx}) at 6/26/97 12:14 AM
> The NZ Coalition Government delivered its first budget a few hours ago.
> This is what it had to say about MAI and the claims it makes for the
> agreement. The good news is that the political pressure from the
> >Alliance party has forced the Government to address the issue.
> >
> >
> >
> >"We are a Government that supports investment.  Investment is the key to
> >strong economic growth.  Strong growth requires high levels of investment.
> >It is a simple fact that New Zealand does not have an adequate savings
> record
> >to fund that investment.
> >
> >That's why we support the development of the Multilateral Agreement on
> >Investment in the OECD.  That Agreement will oblige countries to be quite
> >clear about any limits they impose on foreign investment  -  and also
> oblige
> >them to treat fairly any investment within those limits.
> >
> >The Agreement will clearly signal what we expect of potential overseas
> >investors in New Zealand and will provide them with certainty about the
> way
> >they will be treated.  New Zealanders looking to invest offshore will be
> able
> >to do so with greater certainty about the investment environment.
> >
> >The Government will be working in the OECD to ensure that it produces a
> >world-class agreement that improves the climate for international
> investment,
> > while protecting the national interest of members.
> >
> >In short any agreement signed by New Zealand will reflect this Coalition's
> >conditions on foreign investment.
>
> [End]
> ***** NOTES from Chantell Taylor (CTAYLOR @ CITIZEN) at 6/26/97 8:48 AM
>