CURRENT OUTLOOK
The prospects of industrial recovery during the present year uere, as all knew, closely associated with the international political situation, and until more stable conditions prevailed in Europe, it seemed unlikely that the exchange of goods between nations would increase to any substantial extent. The events of the past few days in Central Europe could not but have an unfortunate effect on the revival of international trade for which they had all hoped. This country's export trade, however, was of great importance to its people, and, despite the unpromising outlook, he felt strongly that every effort should be made to encourage it, whether the effort were that of individual concerns seeking outlets for their products or of industries endeavouring in a concerted fashion to meet the competition of other countries in world markets.
He was glad to observe that the Government was alive to the necessity for assisting these efforts in any manner which might be appropriate. It was also gratifying to note in that connexion that the prolonged negotiations between the United States of America and our own Government in relation to a Trade Agreement were concluded in November last. The creation of freer trade relations between those two great countries might well, if circumstances were propitious, be the precursor of similar relations with other countries, and of a revival of international trade to the benefit of all.
He had been asked during the course of the past year to become vice-chairman of Richard Thomas and Company. Limited. After due consideration he had agreed, with the approval of the board, to accept that office.
The report was adopted.
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