SECONDARY INDUSTRY

Wairarapa Times-Age, 6 September 1938, Page 6

SECONDARY INDUSTRY

ARE WE TO BECOME RIVAL OF AUSTRALIA? DISCUSSION AT RELATIONS CONFERENCE. THE NEED OF EXTERNAL MARKETS. (By Telegraph—Press Association.) Copyright. (Reed This Day, Noon.) SYDNEY, This Day. When New Zealand trade generally was under discussion at the Commonwealth Relations Conference, the question was asked whether New Zealand would become a rival of Australia in the field of secondary industries. The reply was that it was felt that New Zealand’s destiny was bound up with primary industries. She would do better as a primary-producing country, provided fresh markets could be found. This was essential in view of the fact that the British market was contracting. Delegates stated that attempts had been made to increase the Dominion’s trade in primary products in the East, but without the success hoped for. Therefore New Zealand was most anxious to strengthen her trade ties with Australia. One delegate then asked whether New Zealand was prepared to do anything to remove hindrances to trade between the two countries. The answer was that New Zealand would be glad to relax trade restrictions and generally do all she could in this direction. In reply to a further question, it was stated that there had been some flight of capital from New Zealand, but that the Labour Government could not be held responsible. It was due largely to the attractive investment market for money in Australia.