1 00:00:00,400 --> 00:00:03,120 Speaker 1: Afternoon, we have yet more questions about the free trade 2 00:00:03,120 --> 00:00:05,720 Speaker 1: deal with India, this time about the commitment from New 3 00:00:05,800 --> 00:00:08,760 Speaker 1: Zealand of thirty three billion New Zealand dollars of private 4 00:00:08,760 --> 00:00:11,640 Speaker 1: business investment into India over the next fifteen years. Chris 5 00:00:11,720 --> 00:00:14,760 Speaker 1: Hipkins is the Labor Party leader. High Chippie, get a Heather, 6 00:00:14,880 --> 00:00:15,600 Speaker 1: what's your concern. 7 00:00:16,640 --> 00:00:19,600 Speaker 2: Well, we're concerned that New Zealand, the current government could 8 00:00:19,600 --> 00:00:21,360 Speaker 2: be signing New Zealand up to a commitment that we 9 00:00:21,400 --> 00:00:23,919 Speaker 2: are unlikely to ever be able to meet and that 10 00:00:23,960 --> 00:00:26,200 Speaker 2: we could find the free trade agreement unpicked on the 11 00:00:26,200 --> 00:00:29,480 Speaker 2: India side very quickly if we don't meet that commitment. 12 00:00:30,240 --> 00:00:32,199 Speaker 1: Now, what do you mean that if we don't meet 13 00:00:32,240 --> 00:00:34,360 Speaker 1: the commitment, they just pull our market access. 14 00:00:35,000 --> 00:00:36,680 Speaker 2: So if you look at the coverage of the free 15 00:00:36,760 --> 00:00:40,040 Speaker 2: trade agreement in India, they've been describing it as an 16 00:00:40,040 --> 00:00:43,720 Speaker 2: investment and labor mobility agreement and they have been very 17 00:00:43,720 --> 00:00:46,199 Speaker 2: clear that this is a commitment by New Zealand to 18 00:00:46,320 --> 00:00:48,800 Speaker 2: inject up to thirty three million New Zealand dollars are 19 00:00:48,840 --> 00:00:53,240 Speaker 2: twenty sorry billion, twenty billion US dollars from New Zealand 20 00:00:53,280 --> 00:00:56,600 Speaker 2: into India over the next fifteen years. And they've actually 21 00:00:56,680 --> 00:00:59,000 Speaker 2: made some pretty sweeping statements and if New Zealand doesn't 22 00:00:59,000 --> 00:01:00,520 Speaker 2: meet that commitment, we care. It's all the deal. 23 00:01:00,720 --> 00:01:02,640 Speaker 1: But aren't they just playing politics as well, like everybody's 24 00:01:02,640 --> 00:01:04,240 Speaker 1: playing politics, including them. 25 00:01:04,840 --> 00:01:06,479 Speaker 2: Well, I think we need to understand what it means 26 00:01:06,560 --> 00:01:09,959 Speaker 2: for New Zealand. So there is actually a wording issue 27 00:01:09,959 --> 00:01:11,959 Speaker 2: here that we need to really get our heads around. 28 00:01:12,000 --> 00:01:14,040 Speaker 2: So on the India side, they are saying it is 29 00:01:14,040 --> 00:01:17,039 Speaker 2: a commitment by the New Zealand government to facilitate that investment. 30 00:01:17,560 --> 00:01:19,440 Speaker 2: On the New Zealand side, they're saying, Oh, it's just 31 00:01:19,680 --> 00:01:21,559 Speaker 2: we're just going to promote it. If it doesn't happen, 32 00:01:21,600 --> 00:01:23,600 Speaker 2: it doesn't matter. I think we need to understand the 33 00:01:23,640 --> 00:01:27,480 Speaker 2: consequences of New Zealand not meeting that commitment, and whether 34 00:01:27,560 --> 00:01:30,360 Speaker 2: in fact it's commitment to facilitate that investment or just 35 00:01:30,400 --> 00:01:31,680 Speaker 2: to promote investment in India. 36 00:01:31,720 --> 00:01:34,280 Speaker 1: Now it'd have to be promoting investment, right because I 37 00:01:34,319 --> 00:01:36,520 Speaker 1: can't see any world in which we can put that 38 00:01:36,600 --> 00:01:39,479 Speaker 1: much money of private that much private money into them 39 00:01:39,480 --> 00:01:41,160 Speaker 1: in fifteen years. That seems impossible. 40 00:01:41,959 --> 00:01:45,479 Speaker 2: I think it's almost entirely impossible, and that's why I'm 41 00:01:45,520 --> 00:01:47,320 Speaker 2: surprised that they're trying to sign us up to that. 42 00:01:47,400 --> 00:01:49,480 Speaker 2: To put that into context, you know, I think over 43 00:01:49,480 --> 00:01:52,080 Speaker 2: the last twenty five years less than a billion New 44 00:01:52,160 --> 00:01:55,000 Speaker 2: Zealand dollars has been invested in India. In the first 45 00:01:55,040 --> 00:01:57,640 Speaker 2: fifteen years of our free trade agreement with China, I 46 00:01:57,680 --> 00:01:59,560 Speaker 2: think there's about one and a half billion dollars worth 47 00:01:59,600 --> 00:02:02,480 Speaker 2: of investment from New Zealand into China. And the lion's 48 00:02:02,520 --> 00:02:04,440 Speaker 2: heare of that was Fontira and of course Fonterra is 49 00:02:04,520 --> 00:02:06,800 Speaker 2: largely excluded from the India Free Trade Agreement. 50 00:02:07,160 --> 00:02:08,760 Speaker 1: Now you're not going to pull your support for this, 51 00:02:08,880 --> 00:02:09,120 Speaker 1: are you. 52 00:02:10,280 --> 00:02:12,040 Speaker 2: Well, we certainly don't want to. I don't want to 53 00:02:12,040 --> 00:02:14,399 Speaker 2: play a game of chicken with the government over this. Well, 54 00:02:14,520 --> 00:02:16,040 Speaker 2: I want to find a way forward so that New 55 00:02:16,120 --> 00:02:19,240 Speaker 2: Zealand exporters can get the benefits of this trade agreement. 56 00:02:19,680 --> 00:02:21,480 Speaker 1: Yeah, but you're not going to pull support a I 57 00:02:21,480 --> 00:02:23,280 Speaker 1: suspect you're playing a bit of politics here too. 58 00:02:24,280 --> 00:02:26,519 Speaker 2: Well, I'm not trying to make this into a high 59 00:02:26,520 --> 00:02:29,919 Speaker 2: stakes thing. We want to understand the advice the government's received. 60 00:02:30,240 --> 00:02:32,760 Speaker 2: You know, we've got different government minister saying the advice 61 00:02:32,880 --> 00:02:35,440 Speaker 2: is different things. Winston Peters are saying the advice is 62 00:02:35,480 --> 00:02:37,600 Speaker 2: it's a bad deal. I just want to see the 63 00:02:37,600 --> 00:02:40,240 Speaker 2: advice before we you know, we just can't give the 64 00:02:40,240 --> 00:02:43,520 Speaker 2: government a blank check here. But there's a trade agreement 65 00:02:43,560 --> 00:02:45,600 Speaker 2: with India potentially a very good thing for New Zealand. 66 00:02:45,760 --> 00:02:47,040 Speaker 2: Yess it potentially is all. 67 00:02:47,040 --> 00:02:49,000 Speaker 1: Right, chippie, thanks for your time. It's Chris Hopkins Labor 68 00:02:49,040 --> 00:02:52,680 Speaker 1: Party Leading. For more from Heather Duplassy Allen Drive. 69 00:02:52,840 --> 00:02:56,279 Speaker 2: Listen live to News Talk said Be from four pm weekdays, 70 00:02:56,360 --> 00:02:58,519 Speaker 2: or follow the podcast on iHeartRadio.