A. —6a.

Article 7.—His Majesty's Government in New Zealand undertake that protection by tariffs shall be afforded against United Kingdom products only to those industries which are reasonably assured of sound opportunities for success. Article 8. —His Majesty's Government in New Zealand undertake to institute an inquiry into the existing protective duties, and, where necessary, to reduce them as speedily as possible to such a level as will place the United Kingdom producer in the position of a domestic competitor —that is, that the protection afforded to the New Zealand producer shall be on a level which will give the United Kingdom producer full opportunity of reasonable competition on the basis of the relative cost of economical and efficient production. Article 9.—His Majesty's Government in New Zealand undertake that United Kingdom producers shall have an opportunity of putting forward their views in connection with the inquiry referred to in Article 8 hereof. Article 10.—His Majesty's Government in New Zealand undertake that no reduction shall be made in the margins of preference of 20 per cent, ad valorem (or its equivalent), or less, now enjoyed by United Kingdom goods over those of any foreign country, and that where the margin of preference now exceeds 20 per cent. ad valorem (or its equivalent), it shall not be reduced below 20 per cent, ad valorem (or its equivalent) except with the consent of His Majesty's Government in the United Kingdom. Article 11. —His Majesty's Government in New Zealand undertake that the existing primage duty of 3 per cent, ad valorem now levied on United Kingdom goods which are otherwise duty-free shall not be increased, and shall be abolished as soon as financial conditions permit. Article 12. —His Majesty's Government in New Zealand undertake to accord to the non-self-governing colonies and protectorates and the Mandated Territories of Tanganyika, the Cameroons under British Mandate, and Togoland under British Mandate, preferences on the commodities and at the rates shown in Schedule E, and also any preference for the time being accorded to the United Kingdom : Provided that His Majesty's Government in New Zealand shall not be bound to continue to accord any preferences to any colony or protectorate which, not being precluded by international obligations from according preferences, either (i) accords to New Zealand no preferences or (ii) accords to some other part of the Empire (in the case of Northern Rhodesia, excepting the Union of South Africa, Southern Rhodesia, and the Territories of the South African High Commission) preferences not accorded to New Zealand. Article 13. —This agreement between His Majesty's Government in the United Kingdom and His Majesty's Government in New Zealand is to be regarded as coming into effect as from the date hereof (subject to the necessarj/ legislative or other action being taken as soon as may be practicable hereafter). It shall remain in force for a period of five years, and if not denounced six months before the end of that period shall continue in force thereafter until a date six months after notice of denunciation has been given by either party. In the event of circumstances arising which, in the judgment of His Majesty's Government in the United Kingdom or of His Majesty's Government in New Zealand, as the case may be, necessitate a variation in the terms of the agreement, the proposal to vary those terms shall form the subject of consultation between the two Governments. Signed on behalf of His Majesty's Government in the United Kingdom— Stanley Baldwin. Signed on behalf of His Majesty's Government in New Zealand— J. G. Coates. 20th August, 1932.

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