Factories export more

Press, Volume CXII, Issue 33060, 30 October 1972, Page 3

Factories export more

(H.Z. Press Association)

ROTORUA, October 29. Manufactured exports from New Zealand had increased from 519.7 m in 1967 to SllOm in the year ended last month, said the Minister of Finance (Mr Muldoon) in Rotorua.

Mr Muldoon said this was the most spectacular category of New Zealand’s exports. He was addressing an export seminar arranged by the Rotorua Chamber of Commerce.

“This tremendous performance has come about because potential exporters have be-

come confident and enterprising.

“Such things as the N.A.F.T.A. agreement with Australia and the various export incentives have all helped, and as recently as this year’s budget, we have increased the export tax incentive from 15 to 20 per cent. “The cost of these concessions, which-include a liberalisation of the base period, is an additional s7m a year in tax.

“When you get an increase from $19.7m to sllom in five years, it is clear that the incentives we have been giving have been producing good value.” Mr Muldoon also referred to the greatly increasing forest products exports, which had expanded at the

rate of about slom a year to the latest figure of sBBm for the year ended in September. This was a basic export industry, and with planting programmes and capital development in Tasman, N.Z. Forest Products and the Carter-Oji combine, it would continue to expand steadily as a monument to the faith in the future of those who made the first plantings, and to those who had assisted along the way.

Mr Muldoon said the tourist industry was the great non-export earner of overseas exchange.

Exchange receipts for the March year had increased from $ 17.5 m in 1968 to s4sm in 1972, and they were increasing at the rate of about one third each year.