NEW AGREEMENT

Southland Times, Issue 22157, 27 October 1933, Page 7

NEW AGREEMENT

TRADE WITH AUSTRALIA INCREASED PURCHASES BY NEW ZEALAND ADJUSTING BALANCE (United Press Assn.—Telegraph Copyright.) Canberra, October 26. The New Zealand Trade Commissioner, Mr L. J. Schmitt, states that New Zealand has increased its proportion of several important classes of imports from Australia during the past three years as follows: Confectionery, 57 per cent.; hosiery, 12; stationery, 20; paint and varnish, 19.8; iron and steel, 47.6; fencing wire, 17.5; electrical machinery, 11.2; leather and leather goods, 24.4; glass and glassware, 16; books, papers and music, 16.2. As a matter of fact New Zealand is Australia’s best customer, Australia’s share of the grand total of imports into New Zealand being 11.64 per cent, in 1932, and of all British countries, excepting the United Kingdom, Australia is the largest supplier of New Zealand imports. Mr Schmitt expressed the hope that the new treaty would facilitate the development of transtasman trade and enable New Zealand to gain a more favourable position in regard to the adverse balance so very apparent at present.