Trade with China ‘could double in two years’

Press, 26 May 1979, Page 7

Trade with China ‘could double in two years’

PA Wellington New Zealand's value of trade with China couid be doubled from SBOM in 1978 to SI6OM in the next two years, the Deputy Prime Minister (Mr Taiboys) told 110 members of the ImportExport Corporation. The corporation held a seminar on trading with China and Mr Taiboys, who had recently returned to New Zealand with a 1 3-m ember delegation after visits to Japan, South Korea and China, described the trading opportunities available to New Zealand and China. “China is determined to become a major industrial power by the end of the century,” Mr Taiboys said. He pointed out that China lacks up-to-date technology and machinery but said that “to overcome this China’s Government has openely accepted the need for foreign technology and know-how'. “The reassessment of priorities and emphasis on agriculture and light industry in China will

mian grater Opportunities for New Zealand in areas where New Zealand can claim competence and expertise,” said Mr Taiboys. Specific opportunities identified in the meetings with Chinese Ministers and officials existed in the expansion of exports of dairy and forest products, meat and by-products, wool, steel and livestock, he said.

Opportunities also existed in machinery and equipment as China was at present evaluating offers of agricultural machinery and building products. Here possibilities for New Zealand existed in the forestry industry, meat processing, steel industry, ironsands technology, carpet technology, and geothermal energy. New Zealand design, construction and equipment could also be ussed in wood and food processing plants, and building of hotels, said Mr Taiboys.

“China's Government particularly mean to use New Zealand’s expertise in livestock farming and

pasture development. In fact, three experts will visit China in July to

evaluate a specific pastoral development that is a possibility for New Zealand. The Minister of Agriculture (Mr Maclntyre) will follow this up then he leads a delegation to China later in the year representing agriculture,” he said. Both countries agreed, he said, that a regular shipping service between the two was required and consultations were being held. Possibilities also existed in closer relations in insurance, aviation and tourism. China agreed that the

value of trade between the two countries could be doubled in two years provided both sides make a greater effort to import more from the other side, Mr Taiboys said. The need for importers to shop around more actively, particularly in the rapidly developing countries of Asia, was emphasised by Mr Taiboys. He urged all those present to join his colleagues who accompanied him to China in "meeting and possibly even exceeding the target” to double the value of trade.