Pacific trade ‘tied to U.S.’

Press, 14 March 1984, Page 30

Pacific trade ‘tied to U.S.’

Trade in the Pacific is growing faster than in any other area and it is important to keep the momentum up, according to Mr J. H. Stevens, the international president of the Pacific Basin Economic Council. Mr Stevens told the New Zealand committee executive of the council that the improvement in the United States economy was helping this “rejuvenating activity,” particularly in Asia. Malaysia and even Hong Kong, where “the spectre of 1997 hangs over the island,” were notable in this respect. Mr Stevens suggested a council meeting in Vancouver in May would be a sounding board for possible new initiatives on G.A.T.T., and current political issues in the O.E.C.D. before that

body’s June summit meeting. He said it was heartening the council membership was broadening and large delegations were expected from Taiwan, South Korea and other important regional countries of the Pacific rim. A total of 18 countries would be represented, making it the largest ever meeting with some 500 delegates attending. Mr Stevens, who is also chairman of the Canada Wire and Cable Company and a director of Tolley Holdings, said he was pleased New Zealand’s trade with Canada was growing, however, there was a strong case for “raising the profile” of New Zealand products in that area.