With a view to maintaining the cordial trade relations existing between Japan and Australia and in anticipation of favourable response on the part of Australia to our friendly measures, the Japanese Government decided to adopt the following measures by which to regulate Japanese-Australian trade relations from July 1st of this year, and notified the Australian Government to that effect on June 7th.
1. In granting import permits for shipping, the Japanese Government will allot to Australian produce at least two-thirds of the total quantity of wool to be imported into Japan from all foreign countries.
2. The Japanese Government will continue to enforce the measures for export control which it has hitherto voluntarily taken, so that cotton piecegoods and artificial silk goods (including staple fibre textile) to be exported to Australia will not each exceed 51,250,000 square yards in quantity per year.
To the above-mentioned notification of our Government, the Australian Government, under date of June 26th, replied to our Consul General Masatoshi Akiyama at Sydney to the effect that it appreciated the undertaking given by the Japanese Government, that it would continue to have regard for the maintenance of friendly trade relations with Japan, and that it would for the present observe the effects of the measures taken by the Japanese Government on the Australian export trade to Japan, particularly the facilities provided for the purchase and importation of Australian wool into Japan.
It is a matter for congratulation for both Japan and Australia that their trade relations will thereby continue to be satisfactorily maintained after July 1st of this year.