Minister warns exporters

Press, 10 December 1982, Page 6

Minister warns exporters

PA Wellington New Zealand exporters would have to move more aggressively to develop markets in the Pacific rim if strong European trade protection measures continued, said the Minister of Overseas Trade. Mr Cooper, yesterday. Speaking on his return from Europe and the Middle East. Mr Cooper, who is also Minister of Foreign Affairs, said that Pacific rim countries would probably need to band together in a trading bloc to counter European

farm°trade isolationism. “That means that the A.S.E.A.N. countries (Malaysia. Singapore. Thailand, Indonesia, and the Philippines). Japan, South Korea. Australia. New Zealand, and possibly the countries of the Western side of Latin America and North America would have to look in the next five or 10 years at setting up their own preferential trading system." he said. The big growth taking place in the area could be a big market for New Zea-

land's agricultural products. At the same time. New Zealand had to be particularly careful to keep prices down. Mr Cooper made it clear that his trip had left him pessimistic about the world trading scene. "I think the market place out there is very difficult," he said. “We are in a chronic recession. Indeed it may be a fact that we might look back in six or seven years and say what we thought was a recession may be the way of life.

“We have so many people who are trying to prophesy what will happen and are suggesting we are going to get back to big growth rates... in the United States and other countries. In fact, they may only be being optimistic for business reasons. It could be that we are in harder times than we have been in before, and we may continue to be in them for a long time.” The experience of countries overseas showed the value of New Zealand’s wage and price freeze, he said.