Trade with China 'to double in two years’

Press, 16 May 1979, Page 10

Trade with China 'to double in two years’

NZPA Peking The Chinese and New Zealand Governments expect mutual trade to double within two years, according to a summary of recent talks between the Minister of Foreign Affairs and Overseas Trade (Mr Taiboys) and the Chinese Minister of Foreign Trade (Mr Li aing). The summary was prepared by the New Zealand economic delegation visiting China and agreed to by Mr aing during a second and final round of his talks with Mr Taiboys.

The present level of trade is about SBOM. Favourable prospects existed for forest products, dairy products, meat and meat-industry byproducts (tallow, hides, skins, protein meals),

wool, steel products, and livestock, the summary said. The Chinese were evaluating further New Zealand offers of agricultural machinery and equipment, building products and materials, and fish. Firm New Zealand interest was expressed in importing machine tools, compressors, engines, chemicals, textiles and minerals. Both sides thought priority should be given to the development of regular transport services between New Zealand and China. Prospects existed for technical and commercial co-operation in: agricultural consultancy services, forestry and forest-in-dustry' consultancy services, the steel industry (ironsands technology), meat processing (canned

products), machine-made carpet technology, geothermal energy technology, technical education techniques and materials, manufacturing processes for flexible shortrun production requirements (in particular the whiteware and packaging industries), equipment and machines, hotel design, and construction and building-materials technology and equipment. In addition, prospects existed for co-operation in wood-products processing plants, design, construction, and equipment: and in food-processing plants, design, construction, and equipment. The summary noted that co-operation in banking was excellent, and that New Zealand would like to develop closer relations in areas of insurance, civil aviation, and tourism.