Aust. wants safeguards

Press, 30 August 1984, Page 23

Aust. wants safeguards

NZPA-AAP Canberra The Australian Federal Government should include safeguards for Australian industries when reviewing the Closer Economic Relations agreement with New Zealand, says the Sheepmeat Council of Australia. The council’s executive director, Mr Richard Moxham, welcoming the planned review, said any future C.E.R. agreement should accommodate fluctuating exchange rates. Mr Moxham said the review by the Senate Standing r

Committee on Industry and Trade would give industry representatives the opportunity to set out the impact on sensitive industries of recent currency changes. “The recent devaluation of the New Zealand currency had significantly altered the future prospects for trade between the two countries,” Mr Moxham said. “The sheepmeat industry is only one of a number of local industries which may be affected as a result of the currency change. “The C.E.R. agreement

has been established to strengthen and broaden relationships between Australia and New Zealand, but wide differences in currencies now mean that the lamb industry, for one, could be seriously penalised. “My council’s submission willl be urging the Government to recognise the need for safeguards to exist. in any future C.E.R. agreement to accommodate fluctuations in exchange rates,” he said. The committee is aiming to complete its inquiry this year.