EMPIRE TRADE.

Waikato Times, Volume 111, Issue 18653, 3 June 1932, Page 3

EMPIRE TRADE.

INDUSTRIAL CO-OPERATION. COMMITTEE’S B|EC OMMEND ATIONS United Press Assn.—Elec. Tel. Copyrijut, LONDON, June 1. The Imperial Economic Committee’s twenty-first report deals with Imperial industrial co-operation. It expresses the opinion that the time is ripe—1. For the sustained effort to promote this co-operation by organised and -continuous 'association between industries in various parts of the Uritish Commonwealth for the purpose of meeting changing conditions. 2. To co-operate for mutual benefit. Co-operation between those engaged in similar industries in different Empire countries should be based on agreements reached in consultation by representatives meeting in a spirit of co-operation, not rivalry. These agreements should be subject to periodic revision, and should leave the market for certain classes of goods •to tiic less industrialised Empire countries and the market for mere specialised goods to the more industrialised countries. Tariffs could be legitimately used to safeguard the agreements provided the Governments concerned were satisfied the agreements were in the economic Interests of its own country, and were calculated to promote industrial co-operation, but high customs duties for revenue purposes might operate in a protective manner and render the agreements ineffective.