ON THE WANE

Timaru Herald, Volume CXLIII, Issue 20785, 21 July 1937, Page 8

ON THE WANE

EXPORTS TO GERMANY TENDENCY OF IMPORTS TO EXPAND By Telegraph—Press Association WELLINGTON, July 20. “It is regrettable to note that trade between New Zealand and Germany has suffered a considerable decline during the last few years,” declared the Minister of Indust \es and Commerce, the Hon. D. G. Sullivan, speaking at the Chamber of Commerce luncheon to Dr. Hans Luther, . former Chancellor of Germany to-day. The Minister quoted figures showing that New Zealand’s exports last yerr vo Germany were only a little more than one-fifth of what they had been in 1929. Imports from Germany had not shown the same rate of fluctuation as had exports to Germany, and since 1935 New Zealand’s imports of German goods had shewn an expanding tendency. “We in New Zealand,” said the Minister, “have been very interested in the measures adopted by Germany to build up her economic structure on a new 7 basis, although it must be confessed that her efforts o become self-support-ing in regard to various commodities have caused us some apprehension For example, our wool growers have not been particularly delighted at the steps taken to develop synthetic wool. The silk and cotton Industries have already suffered as a result of the development of the rayon industry, and it behoves us to watch all developments which may cause demands for our wool to diminish to an appreciable extent in future. “The New Zealand Government is committed to a policy to protect local manufacturers, and it will very carefully watch the trend of trade as it affects local producers On the other hand the German Government has a duty to perform by <ts own manufacturers and producers, and I have no doubt that the .low of goods Into Germany from New Zealand and other countries will be the subject of careful examination in order to gauge the effect of such importations on German factories. If a trade agreement is concluded between New Zealand and Germany as a result of the Hon W Nash’s recent visit to Berlin, it will be an appreciable step forward and bp a contribution towards developing peace between our countries.”