Abstract:
On 12 August 1959 it was announced that a new New Zealand - United Kingdom Trade Agreement had been signed, replacing the previous one (commonly known as the Ottawa Agreement) which had been in force for over twenty years.
When the 'Heads of Agreement' (containing the basis of the later formal Agreement) was signed on 25 November 1958 the New Zealand Prime Minister said:
"This satisfactory conclusion (to the negotiations) opens a new era in New Zealand's trading relations. The Agreement both modifies and preserves the system of preferences which has contributed so much to the development of the Commonwealth and ensures that the close and mutually beneficial economic partnership between the United Kingdom and New Zealand will continue. At the same time it gives new flexibility to New Zealand's international trading and negotiating position."
and,
"Because of changed conditions the balance of advantage (gained from the preferences) since 1932 has moved against New Zealand." Official press statement issued in Wellington on 25 November 1958.
