N.Z.--QUEENSLAND TRADE PROSPECTS BEING STUDIED

Gisborne Herald, Volume LXXVI, Issue 22907, 29 March 1949, Page 5

N.Z.--QUEENSLAND TRADE PROSPECTS BEING STUDIED

(10 a.m.) BRISBANE, Mar. 29. The Leader of the Opposition, Mr. S. G. Holland, who arrived in Brisbane today, said he would investigate the lop-sided trade between Australia and New Zealand.

Although prices had about doubled in the last 2o years Australia’s purchases in New Zealand had increased by less than £1,000,000 to £2,000,000 a year.

Australia’s exports to New Zealand had increased by more than £11,000,000 a year in the same period. This was throwing ’a heavy-weight on New Zealand’s meagre London sterling balances, Mr. .Holland added. New Zealand could supply Queensland with softwood timbers which were growing at five times the rate of New Zealand consumption. He would investigate means of improving the shipping facilities between Queensland and New Zealand. This might lead to an exchange of Queensland hardw'ood for New Zealand softwood timber.-

The alteration of the New Zealand exchange rate had automatically operated against New Zealand’s exports to Australia. He had reason to believe that reduced Australian orders for New Zealand products were dueio thehigher prices brought about by the unfavourable alteration in the exchange rate- One result was that Australia was now buying more softwood from Sweden.