MSCNewsWire, 10 March 2016 - The Gameloft Affair in which an immense amount of New Zealand taxpayer-donated cash, perhaps as much as $15 million, is still at risk is seen as being a solid reason why the many national business councils operating in New Zealand should be inserted into the vetting processes when grants, especially large scale ones, are being proposed for foreign owned companies.If, for example, the French New Zealand Chamber of Commerce had been involved in the Gameloft transaction, might there have been an early warning that the games outfit was being stalked by Vincent Bollore (pictured), known as the Breton Raider, and who owns everything from African ports and railways to a French television channel?Similarly, if the New Zealand- Europe Business Council had been involved in the largesse which is now being viewed as being substantially irretrievable?The European Business Councils are particularly strong in New Zealand just because they date back to the last century when the bulk of New Zealand trade was with Europe.The British New Zealand Business Association for example, dates back to 1917.These councils have taken on a renewed significance with the mooted NZ/EU Free trade Agreement. They usefully filled the gap while the weight of New Zealand trade stimulus was justifiably concentrated on emerging markets, notably those in Asia.Business councils in recent years have often been viewed as solutions looking for problems. Times eroded their earlier quasi official role in things such as issuing certificates of origin.Also, in the closing decades of the last century, embassies and legations were urged to give trade promotion a priority equal to, if not exceeding, matters of diplomacy.Even so, the various councils can now be seen as offering an important service in the matter of background information in money being donated to companies owned in their own countries.There is no substitute for informed background information. One other thing. The business councils offer their services for free.

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