Communist Countries9 Trade With West

Press, Volume CII, Issue 30316, 17 December 1963, Page 9

Communist Countries 9 Trade With West

(Special Correspondent N.Z.P.A.)

LONDON, December 16.

Prospects for increased trade between the Communist Bloc and the West had become steadily brighter this year, even before Mr Khrushchev announced the big new drive to build the Russian chemical industry by buying factories from the West, says a special correspondent of “The Times.” The Volume of Western contacts and contracts with Russia. Eastern Europe and China has risen rapidly in the last year. .The Iron Curtain has been swept aside by an impressive

flow of government officials and businessmen in both dir-1 ections, all anxious to win or , place orders for a wide variety of consumer and capital goods. It remains to be seen whether the Soviet Union's expenditure on wheat will be repeated in future. It has, of course, reduced the amount of foreign exchange and gold available for short-term investment, and made it more than ever important for Western nations to find new ways of extending credit to the USSR, in future. The Russians are undoubtedly hying to put their own financial house in order. Generally the stage is being set for a considerable increase in trade. Meanwhile, the relaxation of internaitional tension through the partial nuclear test-ban treaty and the development of the Sino-Soviet rift have both led to better prospects of trade between East and West. Apart from the U.S.S.R., China, too. is particularly anxious to increase trade with non - Communist industrial powers such as Britain and Japan, to compensate for losses being sustained through the reduction of business with Moscow and the withdrawal of Soviet economic aid. Apart from the export drive by British, West German and Italian traders, Japanese, French, Dutch, Danish. Swedish, Australian, Canadian and other officials and businessmen have also been crossing the Iron Curtain in increasing numbers this year looking for trade opportunities.

Life Boys’ Outing.— Fifty six Life Boys and leaders from the 6th, 18th and 22nd Christchurch teams held a “one-day holiday’’ at Loburn on Saturday. The day’s programme included novelty races, a cross-country run, competitive games, and a hike along the river bed for a swim. A barbecue round a bonfire was held in the evening.