Scope For Greater Tasman Trade

Press, Volume CVI, Issue 31315, 10 March 1967, Page 17

Scope For Greater Tasman Trade

The existing heavy imbalance of trade between Australia and New Zealand did not mean that there was not scope for greater trade between the two countries, the Australian High Commissioner (Mr D. W. McNicol) said in Christchurch.

Drawing on remarks made last week by the Australian Trade Minister (Mr McEwan), the High Commissioner said the imbalance against New Zealand was not a matter for grievance.

“This is the experience of us all,” he told the Workers’ Education Association.

Mr McNicol repeated that the only reason Australia had a favourable balance of trade with New Zealand was that New Zealand bought manufactured goods which it did not produce itself. “In respect of this trade let it be said that you don’t buy from us for sentimental reasons. You buy from us because the price and quality are what you want." he said. When questioned, Mr McNicol admitted that there was no short-term solution to the balance of trade problem. He

could offer no avenues New Zealand could explore in bridging the gap.

Mr McNicol said that although his country had a population of less than 12 million it ranked among the first 10 or 12 trading nations. “Indonesia has a population nine times that of Australia yet it has only one-third of the value of the gross national product of Australia. “India’s population is 42 times that of Australia, yet the value of India’s gross national product is only about double that of Australia.”