Queensland Times, Friday 30th January 1998
Canberra - Foreign Minister Alexander Downer has rejected claims by Federal Minister for Oxley MP Pauline Hanson that a new international trade treaty would remove Australia’s ability to control foreign investment.
Ms Hanson last week called on the government to stop "secret negotiations" on the MAI and open up the issue to public scrutiny, saying it would remove controls on multinationals importing foreign workers.
Democrats leader Meg Lees this week launched a petition against the Multilateral Agreement on Investment (MAI), which establishes new rules to liberalise the flow of international investment.
Mr Downer, speaking at a London business luncheon Wednesday night, said the treaty would not water down Australia’s existing foreign investment controls.
"I have noticed in Australia the sort of campaign that people like Pauline Hanson at the moment are running, saying that by going along with MAI, that means Australia is going to be swamped by a lot of terrible foreigners and the whole of Australia is going to be sold off," Mr Downer said.
"I think that, first of all, it needs to be understood that this agreement isn’t going to lead to any changes in Australia’s foreign investment policy.
"But secondly Australia has an interest in seeing a more liberal global investment regime.
"And the MAI also will lead to a more liberal global investment regime, although we will still be able to have the restrictions on the sensitive sectors that we currently have in Australia."