E.E.C. Sells More Than U.K. To Asia

Press, Volume CII, Issue 30073, 6 March 1963, Page 13

E.E.C. Sells More Than U.K. To Asia

(N.ZP. A.-Reuter—Copyright) NEW YORK, March 5. The European Common Market has overtaken Britain as Asia’s principal supplier, according to a United Nations report. Britain’s share of trade with Asia has declined by almost a third since 1948.

The report, drawn up by experts of the U.N. Economic Commission for Asia and the Far East (E.C.AF.E.), attributed this trend to Britain's “reduced competitive ability to supply industrial goods” and its slower economic growth. The E.CA.F.E, expert*, in their detailed survey of Asian trade with Western Europe, with special reference to the Common Market, revealed that while Western Europe remained Apia's largest trading partner, much more of this trade was being enjoyed by the European Economic Community. At the end of 1961. the E.E.C. accounted for 15.7 per cent, of Asian imports, as against 9.3 per cent, in 1946. Britain’s share, on the other hand, has declined substantially from 20.1 per cent, to 13.8 per cent, in the same period. Slow Export Growth

The report said that from 1948 to 1961 Asian export

growth had been discouragingly slow, with the exception of Japan, which had spectacularly increased it* share in the export* from 14 per cent, to 8.3 per cent, as against 5 per cent, in 1938 and 6 per cent, in 1928.

The report was prepared for E.CA.F.E'* annual meeting opening tomorrow in Manila.

The United States and Canada had lost ground not only to the Common Market but to Japan, the export performance of which to th* Asian region had been most striking, rising to 118 per cent, in 1961, a* againat 2 6 per cent, in 1948, 7.9 per cent, in 1938, and 5.7 per cent, in 1828.

The Soviet Union and Eastern European countries provided only a small share of Asian import*—2.2 per cent, in 1959-61—the report said.