MEAT TRADE

Gisborne Times, Volume LXXXIV, Issue 12905, 4 July 1936, Page 5

MEAT TRADE

NEW AGREEMENT WITH ARGENTINE.

LEVY OF |D". ON BEEF.

QUOTA ALSO REDUCED.

(U.P.A. by Eleo. Tel. Copyright) LONDON, July 2

The Australian Associated Press has been informed that the new meat agreement is thoroughly satisfactory to Australia, It not only establishes a levy of gd on Argentine beef and nothing on Australian, but also a re-* dnotion in tho. present Argentine quota, while the Commonwealth’s remains unchanged. ■ .Tho agreement will be a long-term one, not subject to quarterly revision, thus ensuring Australia a continuous and expanding market. The agreement must be submitted to tho Argentine Government for formal assent, which is not likely to bo refused. Commonwealth circles arc delighted with tho result of tho negotiations, and consider it establishes a principle which will be most useful in future negotiations regarding other commodities.

BRITISH INVESTMENTS IN SOUTH AMERICA. (British Official Wireless.'. RUGBY, July I. Replying to a question in the House of Commons, the president of the Board of Trade, Air Walter Runcimaii. said that pending the final results of the investigation of the geographical distribution of British capital investments overseas, the estimated nominal value of British investments in 1935 was: in Argentina. £435.000,000; in Brazil £190,000,000; in other South American countries, £160,000,000. The dividends and interest remitted on the investments in 1933 amounted approximately to £B,500.000, £3,500.000 and £3,250,000 respectively. NO NEWS REACHED NEW ZEALAND GOVERNMENT. (Press Assoob-Xciri WELLINGTON, July 3. No comment could be made tonight by the Minister for Marketing (Mr. Nash) regarding the 'cabled report from .London that Australia, has ob tainfid a long term meat agreement with Great. Britain embodying a substantial advantage. I'ur the Gum monwealth over Argentine.

“No advice on the matter at all ha ; bee-i received in New Zealand.” .Mr Nash said. “Negotiations are at present proceeding in London on Lhe question of freight contracts and members of flic Meal Produce!s Hoard arc holding discussions with intercstcr parties m England on several other matters. However, to da'.o. no details of any progress or any decisions have been forwarded to G--Government ”