EMPIRE TRADE

Gisborne Times, Volume LXXIII, Issue 11768, 15 October 1932, Page 7

EMPIRE TRADE

IMPERIAL CONFERENCE REPOR’NS BIG STEP IN .RESTORATION OF WORLD PROSPERITY (British Official Wireless.) RUGBY, Oct. 12. With the publication to-night of a summary of the proceedings of the Imperial Conference at Ottawa, the terms of the schedules which hitherto have been kept back, mainly at the request of the Dominions owing to risks-of .forestalling, are revealed. It is on the basis of the agreements and .the schedules to them contained iu this report that the legislation litis been drafted which will be taken tip by the House of Commons immediately Parliament reassembles on Tuesday. The legislation will be pressed forward with all. speed, nob only to prevent 1 forestalling, but because, under the Import Duties Act, the provision for the. free entry, of imports from the Dominions and Colonies ceases on November 15. The report contains the terms of the agreements between the United Kingdom and the .nrious Dominions and India, and hr the opinion of the Government the agreements greatly increase the opportunity for interJmperial trading, and represent an important- step towards the restoration of world trade. This overriding consideration is expressed in the resolution passed by the conference which declared that by the lowering or removal of barriers among themselves, as provided for in agreements, die How of trade- between various countries of the- Empire would be facilitated. and that by the consequent increase iu the purchasing power of their peoples, the trade of the world also would be stimulated and increased. The agreements with all the Dominions folow the same general form. Imports from Empire countries into the United Kingdom fall into three classes, namely, those accorded entry free of duty, subject to revision three years hence; those which arc granted preference through the imposition of specific duties on _ foreign goods; and those which receive preference in virtue of the 10 per cent, ad valorem duty on foreign goods imposed under the Imports Duties Act. The New Zealand agreement makes no additions to this list, but the schedules attached to the South African agreement include a number of specific duties to he imposed oil foreign imports of various other fruits, raw and canned, and also a 10 per cent, ad valorem duty throughout the year on maize only. FOREIGN GOODS An undertaking is given by the British Government not to reduce the existing general ad valorem duty ol 10 per cent, imposed under the Import Duties Act on a large class of foreign goods, which also are enumerated in the special schedules to the agreements with the Dominions whoso interests are affected. In regard to the modification of import duties in the Dominion on. articles” imported from Britain, full particulars arc given of the new rates imposed. In regard to Canada, these modifications apply to some 215 items, oi which, in 132 cases, the duties on United Kingdom goods are to be reduced, while in. 79 eases such goods are, for the first time, ,to enjoy freedom from custom duty. On the basis of last year’s trade, over 40 per cent, of the imports from the United Kingdom into Canada will enjov immediately the advantage of lower customs duties .than those previously in force. Goods to the value of over 8,000,000 dollars are being admitted free of customs duty. AUSTRA.I si A'-S CONOEf IRONS The agreement with Australia provides that, subject to Tariff Board recommendations, United Kingdom goods will enjoy certain minimum preferences, graded according to the duties chargeable upon them. The minimum margin of preference will range from 15 per cent, ad valorem when the duty on United Kingdom goods is up to 19 per cent, ad valorem, to 20 per cent, preference where the duty is 29 per cent., but the maximum duty rate must not exceed 75 per cent. Preferences exceeding those resulting from the application of the. formula remain at the existing level, subject to certain minor reservations. Certain prohibitions on British imports are withdrawn, and the removal of surcharges and primage duties is promised as soon as is practicable. FROZEN AND CHILLED MEAT An important reature of the Australian agreement lias reference to Lite arrangements for the regulation of imports into Britain of frozen and chilled meat. It provides, inter alia, for Australia limiting the export of frozen mutton and lamb to Britain, in 1933 to an amount equivalent to that so imported in the year ended June 30 last. Meanwhile, the United Kingdom Government will arrange .with the Australian Government for the regulation of the importation of foreign meat in accordance with an agreed programme, and for a quantitive regulation of supplies of bacon and hams coming on the United Kingdom market. The Governments will i consult in 1933 on the best means of securing an improved price situation and a more orderly marketing -d supplies. <NW ZEALAND TRADE Britain already enjoys a very large proportion of the New Zealand trade. Under ,the new agreement, the Dominion undertakes not to increase the primage duty ,to lower stiii luw.her the existing duties, to abolish the surtax on British goods, and lo modify certain basic import duties. Increased margins of preferences on United Kingdom goods are granted by ;tlie South African agreement affecting £2,200,000 worth of trade, of which Britain hitherto supplied £400,000 worth. ' Hitherto. Newfoundland has not adopted the principle of Imperial preference, hut its agreements provides, as from July next, ‘or preferences of TO per, cent. on a wide range of goods, subject to certain reservations. India absorbs about .10 per cent, of Britain’s total, exports, but hitherto Britain had no customs advantages A preference is now proposed on articles in which' the total trade last rear was £34,900,000. of which Britain supplied £14,300,000.