Page 17 Advertisements Column 4

Press, Volume CIII, Issue 30482, 2 July 1964, Page 17

Growth of the Timber Industry. In the past year the New Zealand timber industry has continued to push forward its expansion most energetically and exports of newsprint more than doubled following the introduction of a second newsprint machine at Kawerau. In spite of keen competition in world newsprint markets, the overseas earnings from wood products, pulp and paper increased by more than 50 per cent. The pulp and paper industry needs to plan increases in production many years in advance and several of the principal New Zealand and Australian producers have formed a joint company to investigate the possibility of establishing a mill in the South Island, based on the forests of the Nelson area. Transport Facdlities Shipping Services and Port Development. In view of New Zealand’s distance from many of her major markets, the provision of good shipping services is most important for the success of the current trade drive. It is, therefore, encouraging to learn that the shipping companies, in conjunction with the Producer Boards, have carefully investigated various problems in New Zealand’s shipping trade and made recommendations to speed the turn round of ships. It is to be hoped that these recommendations can be implemented. Another important aspect of improving shipping facilities and speeding operations is the extension and modernisation of harbours to deal with the ever increasing volume J trade. The introduction of ingenious all-weather mechanical meat loaders at the port of Bluff, the opening of the Christchurch-Lyttelton road tunnel and the capital works at several harbours, which are being partly financed by a loan from the World Bank, will all help to keep handling costs down and improve efficiency. Major Capital Projects. Major public and private works are being carried forward on a most impressive scale and each year some projects are completed whilst new plans are continually being made. The country’s first oil refinery was recently opened at Marsden Point, Whangarei. This plant will make a valuable contribution to New Zealand's fuel supplies and should save a substantial amount of foreign exchange, as it is expected to produce all the country's fuel oil until at least 1967. Despite the large public works expenditure on power development since the war, it has been estimated that New Zealand's present total output of electricity will need to be doubled in the next nine years. A loan has already been arranged through the World Bank to finance the laying of a cable across the Cook Strait to link surplus power produced in the South Island to the North Island grid. The financing of the overseas exchange portion of such capita] projects through the medium of the World Bank when overseas funds are under pressure and capital markets are tight, illustrates the advantages of New Zealand’s membership. It is Often said that New Zealand is a young countrj and the vigour with which she is tackling the problemi of economic expansion testifies to this. Perhaps the most reassuring aspect of the country’s growth lies in her proven ability to harness the talents of her people in pursuit of prosperity, whilst maintaining the maximum individual freedom and the greatest concern for human welfare.

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