Japan May Offer Credit To N.Z.

Press, Volume CII, Issue 30234, 12 September 1963, Page 13

Japan May Offer Credit To N.Z.

(N.Z.P. A.-Reuter—Copyright) * TOKYO, September 11. The Prime Minister of Japan, Mr Hayato Ikeda, said today he would like to see a better balance of trade between Japan and Australia and New Zealand.

He believed some adjustment was possible, even although the industrial situations in tbe three countries were different, he said. Mr Ikeda said that during his visit to the two countries this month he was' prepared to discuss deferral payment as well as cash ;ales of Japanese equipment to Australia and New Zealand. Mr Ikeda said he would be only too glad to discuss the formation of an economic committee at Cabinet level between Australia and Japan If the question arose. He did not believe “at this stage” an economic community such as the European Economic Community could be built up in the Pacific, he said. He believed it was more important to strengthen bilateral ties. Mr Ikeda said his visit had no political purpose. It was a “familiarisation tour.” It should not be taken as a new development in or departure from Japanese policy. Japan was part of Asia and Asia was “always first in our mind.”

‘‘Japan acts as a sort of sponsor to create greater co-

operation in Asia,” he said. Hie Prime Minister said he hoped a greater cultural exchange between Japan and the countries he would visit would follow his tour.