TRADE TREATY.

Auckland Star, Volume LXIV, Issue 253, 26 October 1933, Page 10

TRADE TREATY.

TERMS REVEALED.

AUSTRALIA AND N.Z.

BRITISH RATES THE- BASIS.

SOME NOTABLE EXCEPTIONS.

(By Telegraph.—Parliamentary Reporter.) WELLINGTON, this day. Designed to promote closer trade relationships between the two countries, a New Zealand-Australian trade treaty, containing 10 articles and four separate memoranda, was submitted to the House for ratification last night. Confirmatory resolutions, effecting many changes of mutual advantage in the existing schedules, were approved, and the bill itself was read the first time. The second reading takes place at the end of next week. Under the j«,gre'jment the Commonwealth grants to New Zealand the general 'benefit of the British preferential tariff, except on certain lines, on which lower lates have been arranged, and in return Xew Zealand affords the same preference, with higher and lower rates than this in several instancs. Mutual action will bo taken to prevent a diversion of New Zealand's import trade from the United Kingdom to Australia. Arrangements have been made to abolish the sales tax on Dominion goods where similar Australian, lines are exempted, and New Zealand exports will also be relieved of the 10 per cent primage, on the understanding that New Zealand abolishes her primage on Australian imports when financial conditions permit. The rights of both countries to impose protective duties is safeguarded, and a common basis for the protection of local industries has been reached. Free Publicity Films. An evidence of the reciprocal nature of the agreement and the desire of the Commonwealth and the Dominion to cooperate to their common advantage is the article which permits the free entry of Government publicity films into either country. The period of r.greement is indefinite, its termination being dependent upon the giving of six months' notice 'by either side. The treaty will come into operation on a date to be fixed by proclamation. Naturally, members on both sides of the House were intensely interested in the concessions given to the Commonwealth and in those received in return. Tliey were quick to state the case for the interests in their own electorates, few of them viewing the situation from the national standpoint.