TRADE WITH JAPAN

Press, Volume XCIX, Issue 29178, 12 April 1960, Page 18

TRADE WITH JAPAN

“Strong Case For Increase”

(New Zealand Press Association) WELLINGTON, April IL A strong .case existed lor increased reciprocal trade between New Zealand and Japan, the Leader of the Opptsition (Mr Holyoake) told the New ZealandJapan Society in Wellington tonight. Mr Holyoake said the economies of New Zealand and Japan were in many respects complementary. Japan desired to expand its export trade and had to import large quantities of raw materials. It supplied many of the products New Zealand had to import New Zealand wished to expand and diversify its overseas markets. Britain was the traditional market and would remain so, but the British market was almost static and its growth was not proportionate to the Dominion’s increasing production. The improvement of Japanese living standards, with the consequent transition from the traditional rice and fish diet to meat and milk, would create opportunities for exported food products. “Thus there is obviously a strong and sound case for an increase in mutual or reciprocal trade between New Zealand and \ Japan.” Australia was Japan’s biggest wool supplier. Twenty per cent, of Australia’s exports, mainly farm produce, went to Japan. Prospects for New Zealand wool appeared to be good. At present the Dominion could also look forward to a gradual increase in exports of dairy produce to Japan.