IMBALANCE OF TRADE
Czech Seeking Adjustment
(N.Z. Press Association) AUCKLAND. Feb. 14. Mr J. Petrak. general manager of the Centrotex Foreign Trade Corporation, of Prague, Czechoslovakia, is visiting New Zealand with a mission. His company, one of the biggest textile firms in the world, buys £1.5 million worth of New Zealand wool a year, but New Zealand buys only £250.000 to £300.000 worth of goods from his firm. His mission is to attempt to narrow the gap. After two days in Auckland he will visit Wellington and Christchurch. "My corporation has a turnover of £lBO million a year,” he said this evening, “and we employ 70,000 people. For years the trade balance has been seven to one in favour of New Zealand. lam here to talk business.”
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Bibliographic details
Press, Volume CII, Issue 30057, 15 February 1963, Page 10
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127IMBALANCE OF TRADE Press, Volume CII, Issue 30057, 15 February 1963, Page 10
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