TRADE LIKELY TO INCREASE

Ashburton Guardian, Volume 70, Issue 69, 3 January 1950, Page 4

TRADE LIKELY TO INCREASE

EMPIRE TRANSFER OF LICENCES (P.A.) WELLINGTON, Jan. 2. The value of Australian exports to New Zealand during the 12 months ended June was £17,400,000 in Australian currency compared with £6,700,000 in 1947-48, said the Australian Trade Commissioner, Mr R. Hazzard. With the easing of the import restrictions he believed the volume of trade would be on an increasing scale. Tile recent announcement by the Minister of Customs (the Hon. C. M. Bowden) that import licences were now transferable within the Empire with the exception of Canadia had automatically eliminated any feeling that might have existed and would permit freedom of trade between the sister Dominions. Mr Hazzard said the Minister’s announcement was the most important in connection with import licences that had been made for at least four years. New Zealand was a major purchaser of Australian goods, he continued, although many manufacturers had been critical because of what they felt to be discrimination in the operation of the licensing policy and had expressed some doubt as to the longterm value of the market. Mr Bowden’s statement therefore had been most welcome. Relations between the countries were friendly, co-operative and consultation on mutual liroblems was on an increasing scale.. Technical collaboration between industry was more in being than was realised and considerable financial investment was being made' by Australia in New Zealand industry. During the last 12 months or so approximately £1,500,000 had been invested by Australian interests in the expansions of projects- for the ultimate use of New Zealand timber, particularly the manufacture of pulp for newsprint and plyboard for building equipment. Both countries suffered from the common problem of a housing shortage. New Zealand had not been able to supply Australia with as great a quantity of timber products as could have been purchased. “This is, however, a short-term problem,” said Mr Hazzard. “The general feeling is that in the coming years timber and its. products will form the major portion of trade from New Zealand to Australia. Many Australians believe that Australia during the next 25 years will become a major customer for the primary products of New Zealand.”