OTTAWA AGREEMENT

Manawatu Standard, Volume LII, Issue 270, 14 October 1932, Page 7

OTTAWA AGREEMENT

DETAILS OF CONCESSIONS

ALTERATION IN CUSTOMS TARIFF HOW NEW ZEALAND BENEFITS The Customs resolutions implementing the Ottawa trade pact between the United Kingdom and New Zealand were tabled in the House of Representatives, last evening, and adopted after a comparatively brief discussion. In presenting the resolutions, lit. Hon. J. G. Coates gave full details of the effect of the agreement. Britain is to reduce her imports of foreign mutton and lamb by percentages, rising from 10 per cent, for the quarter ending March 81, 1933, to 35 per cent. for. the quarter ending •lune 30, 1934. After that date the minimum reduction will be maintained at 35 per cent, for five years. These provisions relate also to foreign beef. No reduction is to be imposed on New Zealand exports. An increased margin of preference averaging about 15 per cent., instead of 10 per cent, as before, is to be granted to many Dominion exports, including butter, cheese, apples, pears, eggs, milk products and honey. On a further large list of New Zealand exports, the margin of 10 per cent, preference ewer foreign products is to be maintained, preferences in the main being assured for five years. The concessions to be given by New Zealand, in return, include reductions in the duties on confectionery, apparel and ready-made clothing, hosiery, and silk and artificial silk piece goods imported from Britain, in addition to removing the surtax on all goods produced in Britain, and, when conditions allow, to remove the primage duty of 3 per cent, ad valorem. The new Customs duties became operative to-day.