mjl,Govt gives Japanese-owned forestry company Pan Pac free pass to buy New Zealand land
Green Rush: Land Information Minister and Green MP Eugenie Sage has given a foreign-owned forestry company a free pass to buy thousands of hectares of New Zealand land without applying to the Overseas Investment Office (OIO).
Japanese-owned Pan Pac Forest Products was given the special approval to bypass the OIO to purchase land for forestry for the next three years as the Government sought foreign forestry money to help meet its tree planting targets.
The pre-approval was given to Pan Pac despite the Green Party having strongly protested land sales to foreigners and Forestry Minister Shane Jones saying he was sympathetic to rural concerns that converting productive farm land to forestry could cost jobs.
Under the scheme Pan Pac, which is 100 per cent owned by Japan’s Oji Green Resources, would only have to notify the OIO once a transaction to buy New Zealand land for forestry was settled.
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NZ-China free trade agreement upgrade
The upgrade provides better conditions for services exporters, improved market access for goods, a reduction in other barriers affecting New Zealand exports and new areas of cooperation.
A new government procurement chapter adds commitments on transparency and anti-corruption. The chapter also includes a commitment by China to enter into negotiations with New Zealand once it completes its accession to the World Trade Organisation (WTO) Agreement on government procurement or if it were to negotiate such provisions with another country.