CHANGES IN TRADE

Press, Volume CI, Issue 29797, 13 April 1962, Page 12

CHANGES IN TRADE

British Sales To Europe (NJC. Press Association) NEW PLYMOUTH. April 12. He would be a very rush economist wi'o said categorically that Britain’s export deve’opments in Europe over recent years hr.d come as a direct consequence of the success and orosperity of the European Common Market, the British Hieh Commissioner (Sir Francis CumminsBruce) told the Associated Chambers of Commerce conference at New Plymouth tonipbt. “But the fact remains that the mutual trade between Britain and Europe has been increasing at a striking rate” he said

Three years ago about onequarter of Britain’s total exports went to European countries, a figure since increased to nearly one-third. In the same short period Britain's imports from Europe increased by one-third. “Our exports to the Six have, in fact, recently been running at approximately the same level as our combined exports to Canada. Australia and New Zealand combined," tie said. Tn 1960. these three Commonwealth countries took 17 per cent, of British exports compared with 145 per cent taken by the Six.”

But the recent trend had been an increase of British trade with the Six. side by side with a relative decline of Britain’s trade with New Zealand. Canada and Australia.

In 1961 the respective shares had. ,in rough-and-ready terms, been reversed, the Six taking 17 per cent, of Britain’s exports, and Canada. Australia and New Zealand taking 15 per cent. “One of the arguments which has been advanced in favour of the Common Market is that it would raise the standard of living and make the member countries ev_n better customers for imports than they were before," he said.