Japan interested in wool arrangement

Press, Volume CXIII, Issue 33370, 31 October 1973, Page 11

Japan interested in wool arrangement

(.V.Z P.A .-Reuter —Copyright i TOKYO, October 29. Australian and Japanese interests would jointly investigate the feasibility of supplying i Japan with wool under long-term arrangements, the Australian Minister for Primary l Industries (Senator Kenneth Wriedt) said in Tokyo today.

Senator Wriedt, who met [representatives of the • Japanese Wool Spinners’ Association in Osaka durjing the week-end, said that the Japanese, for

tithe first time in recent years, ;iwere prepared to consider J wool-buying arrangements j outside the “normal methods” r ; (auctions). [ The Minister, who is at- [ tending an Australia-Japan I Ministerial conference, said I that he had told the Japanese I manufacturers that long- [ term arrangements would restore strong confidence to | Australian wool growers, and (assure adequate supplies to I Japan. ; A special committee would b e established to examine ; long-term arrangements in [consultation with the Australian Wool Corporation. ; I The Senator said that the [chairman of the Wool ■[Spinners’ Association (Mr S. /Abe) had asked his view of ■[an offer of SUSIOm by the Japanese wool industry to fin-: : ance higher production in ' [Australia. • I He had replied that the [Australian industry was not: [short of investment funds. 1 ’[but a better method of in- - creasing production would be ■ assured long-term markets at f profitable prices, said Senator t Wreidt.