E.X.G.O. To Open On Monday

Press, Volume CIV, Issue 30801, 13 July 1965, Page 5

E.X.G.O. To Open On Monday

. 3 ■ (New Zealand Press Association)

WELLINGTON, July 12. The Minister of Overseas Trade (Mr Marshall) announced today the Export Guarantee Office (E.X.G.0.) will be opened in Wellington next Monday.

He described its establishment as a “notable step in the development of exporting in New Zealand.”

Mr Marshall said E.X.G.O would be administered within the State Insurance Office. “This form of insurance is a specialised one and involves the setting up of extensive records relating th overseas buyers. - “For that reason, the administration will be central ised in Wellington in the meantime, but it will 1 aim tc provide good service to exporters wherever their business is located," he said. The Minister said New Zealand would now have a scheme comparable with that provided for exporters in 23 other advanced countries. “The prosperity and development of New Zealand depend on increasing our export trade, and although New Zealand goods of various kinds already find their way into markets in about 70 countries, it is important New Zealand exporters should not only strengthen their position in existing markets—but also that market diversification should continue and that new markets should be developed.” he said. Mr Marshall said this would involve offering credit terms similar to those offered by overseas competitors. “By making export credit insurance available through E.X.G.0., the Government is enabling the exporter to operate not only with greater security—but also on credit terms to compete with those

under which business is transacted in foreign markets,” he said. The Minister said brochures containing brief details of the contracts available would soon be circulated to all known exporters and a distribution would be made to commercial organisations. He said the objective of the office was to promote export trade through the facility of credit insurance, and to help exporters to sell by giving advice concerning overseas market risks. “It is intended to offer premium rates which would enable New Zealand exporters to obtain credit insurance on terms as favourable as those available to exporters in other countries,” he said. The Minister said rates would vary according to markets and terms of sale.

TEMPLBTOH LADIES.— L.G.U. —Stiver: Mrs A. K. Downing, 90, is—74: Mrs A. Cormack, 88, 11i_77; Mrs D. Ross, 88, 11—77: Mrs L. Jones, 96, 18—78. Bronze: Mrs C. Bamford, 102, 30 —72; Mrs L. Orange, 110, 36—74; Mrs K. Berrvman. 110, 35 —75; Mrs R. CoCombus, 108, 33—75: Mrs W. J. Jones, 108, 33—75; Mrs C, G. Skerten, 99, 24—75; Mrs H. SmatiC, 105, 30 —75; Mrs H. Wilkins, 96, 21—75. Rosis Button: Mrs E. Harris, 114, 36—78; Mrs A. Whitehouse. 119, 36—83. Flag match—st’Cver: Mrs D. Ross carried the flag to the seventeenth fairway; Bronze A: Mrs C. Ashworth carried tiie flag to the eighteenth fairway. Bronze B: Miss E. J. Peat carried the flag to the seventeenth fairway.