TRADE WITH AUSTRALIA
N.Z. To Increase Exports IMMEDIATE RISE OF (New Zealand Press Association) WELLINGTON, March 8. There will be an immediate increase of 40 per cent, in New Zealand’s annual exports to Australia, and a further large increase next year. This is an outcome of a trade understanding reached by the Governments of the two countries after negotiations in Australia by the Prime Minister (Mr Holland). As a part of the understanding. New Zealand has undertaken to encourage extra imports from Australia, with the object of making the new arrangement self-balancing. The main points of the understanding were reported by Mr Holland to a special meeting of the Cabinet a few hours after his arrival back from Australia yesterday morning. Mr Holland subsequently spoke to the Australian Minister of Trade by radio telephone. Early this morning he was still awaiting confirmation of some derailed figures. The main points of the understanding are as follows: New Zealand Fish.—Australian import licences will cover all fish available. New Zealand Timber.—There will be no licensing difficulties for all the quantities that can be sold and shipped. It is estimated that New Zealand’s over-all exports to Australia will be increased by £2.700.000, tc reach about £9.000.000 this year, and by a further £1.400.000 next year, making a total annual increase of more than £4.000,000. New Zealand timber exports are estimated to be increased by 21.000.000 broad feet this year, with an estimated further 14.000.000 board feet, plus 10.000 tons of newsprint, next year. The increases in value are of the order of £1,600.000 this year and £2.400,009 next year.
Other New Zealand exports are to be increased by an estimated £BOO.OOO a year. New Zealand fish exports can be increased by as much as £240.000 this year.
All figures are in New Zealand currency.
“The course we have agreed on is fully in the spirit of the Anzac agreement (Canberra Pact), and is consistent with G.A.T.T.,” Mr Holland said.
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Bibliographic details
Press, Volume XCIII, Issue 27912, 8 March 1956, Page 12
Word Count
325TRADE WITH AUSTRALIA Press, Volume XCIII, Issue 27912, 8 March 1956, Page 12
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