21st REPORT

Hokitika Guardian, 2 June 1932, Page 6

21st REPORT

OF ECONOMIC COMMITTEE.

(United Press Association—By Electric Telegraph.—Copvright.)

(Received this day at 11.15 a.m.) LONDON, Juno 1

The Imperial Economic Committee’s twenty-first report deals with imperial industrial co-operation. It expresses the opinion that the time is ripe for a sustained effort to promote' this cooperation by organised, continuous association between industries and various parts of the British Commonwealth for the purpose of meeting the changing conditions. To cooperate. for mutual benefit, co-opera-tion between those engaged in similar industries in different Empire countries, should he based on agreements reached in consultation by representatives melting in a spirit of co-operation, not rivalry. These should be subject to periodical revision and should leave the market for a certain classes of goods to less industrialised Empire countries and the market for more specialised goods to the more industrialised countries. Tariffs could be legitimately used to safeguard the agreements provided the Goverment’s concerned were satisfied! that the agreements were in the economic interests of its own country and calculated to promote industrial co-operation, but high customs duties for revenue purposes ybght 'operate in a protective manner and render the agreements ineffective.