AUSTRALIAN TRADE WITH N.Z.

Press, Volume XCIX, Issue 29273, 3 August 1960, Page 12

AUSTRALIAN TRADE WITH N.Z.

Decisions In Talks In Wellington: (New Zealand Press Association) WELLINGTON, -August 2. New Zealand will adjust the method df valuing Australian goods for cuistoms duty when the revised New Zealand tariff schedules : are introduced next year.

The Prime Minister (Mr Nash) and the Australian Deputy-Prime Minister and Trade Minister (Mr McEwen) announced this’ tonight after trade talks in Wellington. / They also announced the establishment of an Australian-New Zealand consultative committee on trade. This will comprise senior officials from both countries and will meet regularljr in Canberra or Wellington.

The committee will detailed studies of major international trade issuies affecting both countries. It will examine opportunities for increased trade between the two countries, an d will be requested by Ministers to examine the possibility of expanding international commodity markets, /

Mr McEwen said that the Australian Government welcomed the announcement that revised New Zealand tariff schedules would be introduced next year. The decision to adjust the method of valuing Australian goods will remove a long-stand-ing bone of contention between the two countries. Duty on goods from Australia is at present based on Australian domestic prices, in spite of the 25 percent, difference in currencies. This means that an article worth £lOO in Australian currency is worth £BO in New Zealand currency. But New Zealand customs duty and other charges are calculated on £(NZ)100. In the communique Issued after the talks ended today, Mr Nash and Mr McEwen emphasised the value of a continuing interchange of Ministerial views, particularly during a time when great changes were taking place in the structure and direction of international trade.

Announcing the decision to set up a ccmsultative committee, the commutiique said:— “Meetings between Ministers of the two countries provided an opportunity for an exchange of views on questions of common interest, including current developniients in international trade, the J growing strength of the economies of both countries, and oppor l iunities for expanding trade between them. “In/ the discussion of developmental in international trade, including the recent movement towards regional economic grouping, particularly in Europe, and trend Is in world commodity markets, I the similarity of interests of Australia and New Zealand and the ■ value of continuing close consultation were emphasised. This is already taking place on an ad hoc„ basis between Ministers, offiand businessmen as the need ariiiies.

“'ln the course of the review it emjerged clearly that the New Zelaland and Australian Goverpnurnts could make the most effectoie contribution to the solution of common problems by working together as closely as possible,” Other Ministers with Mr Nash at tilfie talks were the Deputy-Prime I Sinister (Mr Skinner), the Minisffer of Finance (Mr Nordmeyer), tljhe Minister of Industries and <Commerce (Mr Holloway), and ■the Minister of Customs (Mr yBoord). I', Today Mr McEwen was guest at .a Parliamentary luncheon, and later attended the House of Representatives. He was applauded by members on both sides when he entered the chamber with Mr Nash, and was given a distinguished visitor’s seat on the floor of the House.