Joint trade venture
PA . Auckland I New Zealand and France have announced that I their . Governmentowned shipping lines will share a joint venture aimed at rationalising container trade between this country, Australia and the United States. The Minister in charge of the (Government-owned N-ew, Zealand Line, Mr Prebble, said the venture rriade good sense. I “It is nationalistic nonsense to believe otherwise] and the French Government J- believes the same,” he said. ■ ! j French 1 shipping- lines played an important role in the Pacific, said Mr Prebble..' [ . .! Negotiations for the venture began last year wjhen the Pacific Australia Direct Line and the New) Zealand Line agreed to set up the Australia New.'Zealand Direct Line. At tile time P.A.D.~was ojvnep by the (Swedishbased Transatlantic Line. I The French state-owned Cpmpagnie Generate Maritime and Sofrana, a shipping! company which began (sailing between New Zealand and ? new Caledonia 20 years ago, has flince bought P.A.D.
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Press, 24 March 1988, Page 5
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152Joint trade venture Press, 24 March 1988, Page 5
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