BRITISH TRADE WITH U.S.

Press, Volume XCV, Issue 28266, 2 May 1957, Page 6

BRITISH TRADE WITH U.S.

“ Steady Climb To A Record Height”

(N.Z. Press Association-Copyright) (Rec. 8 p.m.) LONDON, April 30. The United States would continue to provide a market with a great capacity to absorb British and other foreign products, the United States Ambassador to Britain, Mr John Hay Whitney, said today.

“The purchasing power of the American people is rising steadily year by year,” he told a luncheon meeting of the American Chamber of Commerce held in his honour.

Mr Whitney said that throughout the turbulent events of the last year trade between Britain and America had climbed steadily to a new record height. The record sale of British products and services in the American market in 1956 should be ranked as one of the top headline events of the year, he said.

The prospect was very good for British exporters to expand their trade in the highly competitive American market, Mr Whitney said. “In turn, we hope that improving economic circumstances in Britain will make possible a further removal of restrictions on dollars imports and an increasing market for American goods here,” he added.

He said that in Europe an exciting new prospect was now developing—the six-nation treaty for a Common Market.

“We are attracted by the great potential benefit to our European Allies of having a common market of more than 250,000,000 people with one of the greatest reservoirs of industrial resources and skills in the entire world. “We are convinced that in Western Europe a Common Market and Free Trade Area would promote political harmony along with these economic advances. J “Both trends would increase the a strength and the influence of the * participating nations, to the advantage of the entire free world,” . he said.