Further list added to free trade

Press, 10 April 1980, Page 2

Further list added to free trade

PA Wellington A further list of goods for inclusion in schedule A of the New Zealand-Australia Free Trade Agreement was announced yesterday by the Minister of Trade and Industry (Mr Adams-Schnei-der). It is a list of seven items, i including travel goods and circular saw blades, in which current two-way trade is estimated to be $BOO,OOO. Other items include fishfat oil' and waste, plants and seeds used for pharmaceutical or perfume manufacture, i salt, and seawater. The Minister said the ad- - dition of travel goods to schedule A was particularly significant as it was the :

first time goods had been moved from the schedule B arrangement to schedule A. The basic aim of schedule B is to encourage firms to agree to the inclusion of products in schedule A by giving them experience of duty-free trade while being safeguarded. The effect of the addition of these goods to schedule A would be that any . customs duties applicable to trade between New Zealand and Australia would be phased to free-entry over a period of up to eight years. The first ’-eduction in duties would apply retrospectively from January 1, 1980, Mr Adams-Schneider said.