Looks To Commonwealth To Revolutionise Economy

Northern Advocate, 21 October 1949, Page 5

Looks To Commonwealth To Revolutionise Economy

LONDON, Thu. (10 a.m.). —“This country and this Government mean business in their development of trade with our sister nations in the Commonwealth,” the President of the Board of Trade (Mr Harold Wilson) told a meeting of the Royal Empire Society in London today. . Against the background of world economics, development ot these territories may, in 10 or 15 years, prove to be the most important event of the present century, and may well, given time, revolutionise the world economic position and the balance of trade. , ,

“If the same drive and energy had been put into Commonwealth economic development during the 20 years before the war as in the past four years, our dollar problem today would be of easily-manageable proportions. “There is no time to be lost. While dollar exports must come first, we need more and more production for dollar saving or dollar earning schemes in the Commonwealth, for the ordinary needs of trade with the sterling area, and, above all, lor new Commonwealth development.”

“Just as our needs have never been greater, so it can be said* that the economic links which bind the Commonwealth together have never beer closer than they are today.

“Improvement of trading relations between Commonwealth countries and further development of Commonwealth territory are so vital to this country and to the world that they ought to bo above all considerations of party politics.