HC Deb 20 October 1966 vol 734 cc384-5
19. Sir R. Russell

asked the President of the Board of Trade if he will make a statement on his recent official visit to Australia.

The President of the Board of Trade (Mr. Douglas Jay)

Yes, Sir. I visited Australia between 18th and 30th September, including in my tour Canberra and the six State capitals. I should like to express my thanks to the Australian Government for their warm hospitality.

The purpose of the visit was not to negotiate with the Australian Government on trade matters, but to see at first hand and to encourage the British export effort in Australia. The main impressions I received was the great goodwill which still exists towards Britain and the vast opportunities for the expansion of British exports, particularly in the capital goods sector.

Sir R. Russell

While thanking the right hon. Gentleman for that Answer, may I ask him when he intends to approach the Australian Government with a view to getting the Anglo-Australian Trade Agreement renewed on a long-term basis instead of the present year-to-year basis?

Mr. Jay

There is an agreement between ourselves and the Australian Government that it would be wiser to complete the Kennedy Round negotiations before we revise the Anglo-Australian Trade Agreement. Meanwhile, it remains in force.

Mr. Doughty

Does the President of the Board of Trade realise that Australia is developing very fast indeed and is in urgent need of capital for that purpose? As trade will follow the investment of capital, will the right hon. Gentleman use his influence on the Chancellor of the Exchequer to see that Great Britain and not the United States supplies that capital?

Mr. Jay

I entirely agree. Australia is a very great market for British exports of that kind and I have been impressing that on British industry since returning home.

Mr. Marten

For the benefit of those who were not there, would the right hon. Gentleman repeat what he said in Australia about gold?

Mr. Jay

I have already made a statement about this matter and J am sure that the hon. Gentleman fully understands it.