Abstract:
Modern ideas of the relationship between trade and development emphsize the benefits of international specialization not only for economic efficiency but also for the challenge of accelerating development. Most countries in the world, including New Zealand and the South-East Asian countries, are aiming at a more rapid and stable growth. In achieving this objective, effective policy measures are required to make the economy more responsive to the stimulus from trade.
New Zealand has been dependent on international trade for its development and progress throught its history. New Zealand is one of the countries which have relatively high value of trade per head of population. The value of total trade per head of population amounted to £(Stg.)256 in 1963. Any fluctuation in overseas trading has consequent effect on the economy to a great extent. The U.K. is New Zealand's predominant customer for exports and the biggest supplier of imports. The possibility of Britain joining the European Community (E.E.C.) has brought forcefully to New Zealand the dangers that face an economy dependent upon a narrow range of export products and one overseas market. New Zealand has found it necessary in recent years to diversify products and develop new markets with vigour.
