Copra Still Main Export

Press, Volume CVII, Issue 31549, 11 December 1967, Page 7

Copra Still Main Export

IN.Z Press Assn. —Copyright; PORT VILA (New Hebrides, Dec. 7. Copra remained the New Hebrides’ principal export, but the meat industry was one of the condominium’s best prospects for the future, the British Resident Commissioner, Mr C. H. Allen, said at the opening of the fifteenth session of the New Hebrides Advisory Council. The session was largely de voted to detailed study of th< condominium budget for 1968 and was attended by both th< British and French resides commissioners. Mr Allen said that estimate; had been drawn up before th<

devaluation of sterling and adjustments would have to be made. He said that the territory’s favourable visible balance of trade had existed since 1963, but that less than half the budget revenue was raised locally, the rest coming from Britain and France, the condominium partners. He said it was hoped that copra exports would reach 40,000 tons this year. Meat exports were worth £60,000 in 1966, but there were some problems to be faced. Six thousand and a half tons of fish were exported in 1966 and prospects for 1967 seemed good, but competition was fierce, Mr Allen said. It was hoped that 70,000 i tons of manganese would be , exported in 1967 —10,000 tons ! more than in 1966—but world prices were not good. i Mr Allen said the joint administration was bolding talks

with an international company interested in prospecting for low grade iron ore. The Resident Commissioner also noted great strides in the building trade and a considerable increase in air services, particularly local ones. He said that tourism was growing quickly and it seemed probable that it would increase even more. Mr Allen said that both British and French organisations had made great progress in education and it was hoped that this would soon result in a nucleus of well-educated New Hebrideans who would be of valuable service to the condominium.

He said that a budgetary deficit of slightly more than £77,000 in the estimates would have to be met by increased taxation.

To meet the deficit, increased taxes had been imposed on non-essential imports such as wines, beer, spirits and tobacco.