TRADE WITH EAST

Hokitika Guardian, 22 December 1932, Page 7

TRADE WITH EAST

PROGRESS OF AUSTRALIA CONFERENCE IN NEW YEAR SYDNEY. December 18. The first serious move to exploit the markets in the East for the benefit ol Australia lias been made by the new Minister of Trade and Commerce. Mr F. ii. Stewart, who announced that early in the New Year he would call a conference of all interested parties to go into the matter. Mr Stewart said a section of tiie Department of Commerce had been set aside to study the possi-bility-of trade with the East. The department was prepared to co-operate in any way and would give all the assistance within its power. It is noteworthy that Australia’s trade with Eastern countries has grown from £17,523,000 in 1929-30 to £21,217,121 in 1931-32. Trade with Japan has increased from £6,555,000 in 1929-30. to £11.650,000. The trade figures with India, however, show a decline of £5,452,000 to £959,49/. Countries for which figures have been prepared are Japan, China, India, Ceylon, Hongkong, Philippine Islands. Siam, Dutch East Indies and British Malaya. The total value of imports from those countries during 1931-32 amounted to £9, 037,000. so that trade with the East, recorded in Australian currency, resulted in a favourable balance of £7,410,000 in 1930-31. and an unfavourable balance of £l,688,000 in 1929-30, Detailed tables showing the balance of trade with the different countries contain some gratifying information, hut their outstanding feature is that the increased trade has been in three commodities only—wool, wheat and flour. There is a feeling that other industries should benefit, and it- is along these lines that inquiries are now proceeding. Great interest lias been aroused in the cruise of the “‘show boat,” which will carry a large number of trade representatives to the East, besides containing an exhibition of Australian products. It is said that the increased trade is due solely to the enterprise of a few firms which have been quick to realise the possibilities, and it is now hoped to interest scores of others. An organised drive will be made for orders, and the results should he reflected in next year’s trading figures. It is likely that the “show boat” will carry a 1 full complement of cominerical delegates.