Train deal sees more trade with Hungary
PA Wellington Trade between New Zealand and Hungary is said to have increased sharply as a result of a contract between the New Zealand Railways and a Hungarian firm for new commuter trains for the Wellington area. Mr Hilton Lowndes, chairman of Public Transportation, Ltd. who negotiated the train sale and a reciprocaltrade agreement with the Hungarian Foreign Trade Bank when the train order was placed two years ago, said that Hungary had fully entered into the spirit of the agreement. In the first year of trading more than twice the value of goods required
on an annual basis had been bought. Figures released by the Trade and Industry Department confirm that Hungary is “well ahead” of its commitment to buy additional New Zealand products. A spokesman for the department said that by March 31, 1981, sales to Hungary had amounted to $5.6 million. Wool had been the main commodity previously purchased from New Zealand by Hungary but considerable diversification had now been achieved. Sales now included hides and skins, pharmaceutical raw materials, milking equipment, animal eartags, seeds.
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Press, 5 December 1981, Page 14
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185Train deal sees more trade with Hungary Press, 5 December 1981, Page 14
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