JAPAN AND AUSTRALIA

Press, Volume XCVI, Issue 28323, 8 July 1957, Page 10

JAPAN AND AUSTRALIA

Trade Plan Signed

(N.Z. Press Association —Copyright) (Rec. 7 p.m.) CANBERRA, July 6. Australia and Japan agreed today on the exchange of most-favoured-nation treatment on tariffs and assured each other of non-discriminatory treatment in import and exchange controls. In the agreement signed in Tokyo today, Australia was assured of most-favoured-nation treatment for commodities for which there were expected to be markets in Japan. The treatment applied to import and exchange controls.

Australia agreed to admit Japanese goods at duty rates no higher than those applying to goods imported into Australia from other foreign countries. Japanese exports to Australia will not be subject to any discrimination in import licensing.

The agreement followed talks in Japan between the Australian Trade Minister (Mr John McEwen) and Japanese trade officials.

Australia agreed to review within three years, “in the light of experience gained under the agreement,” the possibility of applying the General Agreement on Trade and Tariffs between the two countries.

Among the protections for Australian industry against any damaging effect of a flow of lowpriced Japanese goods were the Japanese responsibility to /halt such a flow before export from Japan, if it might damage Australian industry, and Australia’s right to apply long-term tariff restrictions in consultation with Japan if she considered local industry threatened.