ITALIAN TRADE
Concern At Disadvantage
(N.Z. Press Association) WELLINGTON, Dec. 1. Italy fears that New Zealand’s decision to devalue its currency will make Italian cars virtually unsaleable in New Zealand, according to the Minister of Customs (Mr Shelton). He said after meeting members of the 16-man Italian trade mission visiting New Zealand: “They are concerned about New Zealand's devaluation because in effect it imposes an extra duty on Italian goods imported into this country.” Cars were Italy’s largest single export to New Zealand and devaluation increased the cost of the car and increased the duty and sales tax in proportion. The mission is in New Zealand to help narrow the trade gap between the two countries.
Italy bought twice as much from New Zealand last year as New Zealand did from Italy. Italy bought approximately slBm worth of goods from New Zealand and New Zealand about sBm worth from Italy.
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Bibliographic details
Press, Volume CVII, Issue 31542, 2 December 1967, Page 22
Word Count
150ITALIAN TRADE Press, Volume CVII, Issue 31542, 2 December 1967, Page 22
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