TERMS OF TRADE AGREEMENTS

Evening Post, Volume CXIV, Issue 91, 14 October 1932, Page 4

TERMS OF TRADE AGREEMENTS

TARIFF ALTERATIONS ARE LIMITED

MEAT ARRANGEMENT EXPLAINED

CONFECTIONERY, APPAREL, READY-MADE CLOTHING

> A comprehensive survey of the results of the Ottawa Conference was presented to the House of Representatives last evening by the Right Hon. J. G. Coates, who was the leader of the New .Zealand delegation to the Conference. Mr. Coates reviewed the advantages which New Zealand has gained as a result of the deliberations and also the concessions which have been made to IGreat Britain. : ---Customs resolutions were.introduced to give effect to the alterations' in the tariff consequent on the agreements. These provided for surprisingly few'alterations and affected mainly confectionery, ; apparel arid reacly-rnade' clothing, hosiery, and silk and artificial piece goods. Certain changes are also proposed in reference to products of non-self-governing colonies, the items affected including asphalt, cigars, cocoa, coffee, rum, and unground spices. Mr. Coates estimates that the effect of the tariff changes will be a reduction of about £250.0(30 in the revenue. ' The first achievement of the agreement, said Mr. Coates,'is that' New Zealand's staple products were to remain exempt from the. j United Kingdom's 10 per cent, revenue tariff, which had been due fto expire on 15th November. Moreover, an increased margin on preference, mostly of the order of 15 per cent., instead of the .;former 10 per cent., is to be granted to many New Zealand exports, '.including butter, cheese, apples, pears, eggs, milk products, and ;honey. On a further substantial list of New Zealand exports the margin of 10 per cent, preference over foreign products is to ha maintained. For the most part preferences granted to New Zealand products are to be assured for at least five years. Mr. Coates made a' full explanation of the meat agreement. The Imperial Government has agreed to reduce the imports of foreign mutton and lamb by percentages rising from 10 per. cent, for the quarter ending 31st March, 1933, to 35 per cent for the quarter ending 30th June, 1934. After the latter date the reduction is to amount to 35 per cent for the period of the Ottawa agreement— five years in all. Foreign frozen beef is also to be subject to the same percentage reductions. No reduction is to be imposed on any exports from New Zealand. In return for concessions granted to New Zealand, the Dominion ia making important concessions to the United Kingdom. New Zealand's undertaking is summed up in the following words: "Protection by tariffs BiaU be afforded against United Kingdom products only to those industries which-are reasonably assured of sound opportunities for success. An inquiry is to be instituted into _ wdeting protective duties' and where necessary New Zealand will , reduce protective duties to such a level as will ptece the United Kingdom producer in the position of a domestic competitor." New Zealand agrees to remove at once the surtax on goods 1 produced in the United Kingdom and, when financial conditions permit, to remove the primage duty of S per cent, ad valorem. Mr. Coates's statement also urges the necessity for a central bank.