NO TRADE PACT.

Auckland Star, Volume LXVIII, Issue 156, 3 July 1937, Page 8

NO TRADE PACT.

Mr. Nash's statement, reported to-day, makes it clear that he is not returning from England with a trade pact, but merely with the "brighter possibility" of one. The broad purpose of his mission was to propose to the British Government that it should impose no restriction on the entry of New Zealand produce to the United Kingdom markets, and j in return the Dominion would expend the total proceeds in the United Kingdom. Trade with foreign countries was to come last. Now Mr. Nash speaks confidently of increased trade with Germany, Holland, France and Russia, but only of a "brighter possibility"' of extending our markets in the United Kingdom. Meanwhile a separate agreement covering British imports of mutton and lamb for this year has been concluded. It will satisfy the industry for this year, but for next year there is only Mr. Nash's "hope" of a further increase in the quota. It seems clear that Mr. Nash's achievement, for reasons which can only be guessed, has to date fallen regrettably short of his aspiration. The negotiations for a trade pact are, however, to be continued, and it may still be hoped that when the British Government has made a decision on the major question, that of a trade agreement with the United States, New Zealand's offer will be favourably considered.