§ 18. Mr. Scott-Hopkinsasked the Secretary of State for Trade and Industry what are the total values of Japanese imports into the United Kingdom from July, 1971, to the latest convenient date, divided into raw materials, processed materials, part manufactured products and manufactured goods.
§ Mr. Anthony GrantFigures for imports from Japan are published in Table II of the monthly Overseas Trade Statistics. In the period July to November, 1971, total imports were £91 million, of which food was £12 million, basic materials £3 million, semi-manufactures £28 million, and finished manufactures £48 million.
§ Mr. Scott-HopkinsDoes my hon. Friend agree that it is a worrying situation when imports of semi-manufactured and manufactured goods have risen in the way they have, particularly in view of the international pricing arrangements, which mean that some Japanese goods enter Britain below the cost of production and gravely affect our own industry in comparable fields?
§ Mr. GrantTo get the matter in perspective, it should be remembered that the total imports from Japan still account for only about 2 per cent. of our total imports and that the growth in imports from Japan over the latter part of last year showed a reduction as compared with the earlier part of last year.
§ Mr. FellHowever small the percentage of imports, is it not a fact that there are large imports, for instance, of electronic equipment into this country which are being produced at a tremendously low price with which our manufacturers cannot compete? Cannot something more be done about this?
§ Mr. GrantUnder the 1962 Anglo-Japanese Trade Agreement it is possible to take measures to restrict imports if they cause substantial damage to the home industry. The Japanese have been moving considerably towards liberalisation recently. In fact, the hon. Gentleman may be interested to know that there are some 40 items which Japan restricts against us, whereas the United Kingdom restricts about 50 items of Japanese origin.