N.Z. TRADE IN ASIA

Press, Volume XCVII, Issue 28552, 3 April 1958, Page 19

N.Z. TRADE IN ASIA

Mr Nash Sees Need For Shipping (Special Corresrionaent N.Z.P.A.) SYDNEY, April 2. New Zealand must find ways of guaranteeing direct shipping links to exploit the obvious Asian markets now closed to it, the New Zealand Prime Minister (Mr Nash) said here yesterday. He was surveying aspects of his fiye-week, nine-country, 24,000-mile Asian journey. The journey has shown him Asia,' not as a threat, but as a promise of new markets and economic ties for New Zealand. He regards a direct shipping link as a vital factor.

The Government will meet shipping heads if necessary to discuss State action which could quicken establishment of such a link and protect it, Mr Nash said, “ensuring .that the link is not subject to losses or undue profits.’’ He does not foresee a Govern-ment-owned line doing the job, but hopes that shipping lines may be interested in taking the step themselves. “We will give them all the help we can. It may be subsidies. I can’t tell at this stage, but we would be prepared to meet them and talk over this problem,’’ Mr Nash said. He has come back confident in Asia’s future and certain not only that Asian-Western coexistence is possible but that it will be beneficial and that direct shipping is vital if New Zealand is to play its part and share the benefits. He agrees that markets are not

readily available for New Zealand sales now that lack of shipping, Asia’s generally unsatisfactory overseas reserves position, and the effect of heavy selling of low-priced American surpluses have blocked an immediate increase in New Zealand’s selling there.