NEW TRADE ORGANISATION
The formation of the Austrian Manufacturers' Representative Organisation Far East.
A recent announcement that a new 3. Confidence in the Austrian organisation has been established in Austrian trade organisation had been Shilling is so firm that the cover of Hong Kong being the best centre formed to establish and promote
Its currency as published by the Aus- from which to develop business with trade relations with all countries in trian National Bank is 96%. This the various countries in the Far East. the Far East is of particular interest is the second highest cover in the both to the East and West. to those in the building industry be- world after Switzerland. cause of the fine machinery and ex- cellent building materials that are produced in Austria. It is expected that this development will make these products available to local too distant consumers in the not future.
The story leading up to the forma- tion of this organisation was told at a press conference by Mr. G. H. Luzzatto, its official representative and local manager who has been connected for many years with Aus- trian industry and has also consider able experience of the Far East.
and Thailand.
To begin with, A.M.R.O.F.E. will
Singapore. organise the markets of Hong Kong, Malaya. British Bornec In due course, when arrangements in these countries have been established further arrange- ments will be made with other coun- tries as and when such opportunity arises.
to the definite stabilization of the Already during the last stage prior Shilling great efforts were made to organise Austria's exports, as she had lost most of her natural markets in the Near East owing to the fact that these countries which are now behind the Iron Curtain are only able to purchase a fraction of what they did before the war. It therefore becomes Basically the organisation func- imperative to organise everything in tions as works representative of the Austria in order to find new markets. Austrian manufacturers and will do As a result of their efforts Austrian Its main business through Import industry and trade have been able to firms, established in the territories. find such markets individually es- In view of the fact that Austria pecially in the Near East. Asia Minor. herself, as mentioned above, has only In his report, Mr. Luzzatto said: North Africa and some South Ameri- limited knowledge and connections can countries, not to speak. of course, with these countries and in view of Like many other countries
Great Europe, the Federal Republic of Aus- of the trade relations with
the fact that a financial background Britain and other countries of the tria suffered a nearly complete breakdown after the end of the war
was necessary to the organisation, an EPU, the U.S.A. and Canada.
agreement was reached with the con- and had to overcome enormous diff-
In many parts of the world, how sent of the Federal Chamber of Com- culties for the recovery and recon- ever. It proved impossible or nearly merce and the other Austrian struction of her industrial potential. Impossible to establish regular trade Government Departments dealing Quite apart from the difficulties relations and one of these parts is with the export trade, with the firm which had to be overcome in com- the Far East. In order to acquire a Gordon,
Woodroffe & Co., Ltd.. mon with many other countries in thorough knowledge of economic London, which firm became a part- Europe. the special difficulty for Aus- conditions in the Far East and the ner in the organisation. tria was and partly still is the fact possibilities for Austrian trade. the that Austria remains an Occupied Government decided to send a trade country.
delegation towards the end of 1952 to visit all important countries in the Far East. This trade delegation gave their advice as how to organise trade relations in these countries. Based
in
It is thanks to ERP that recovery has been possible in such a short time. Austria has not only succeeded in recovering completely but has established her economy on such a high level that it is today possible for her to play a relatively important
part in world trade.
portant industries
and
whose
Through the good services of their subsidiary company, Gordon. Wood- roffe & Co. (Far East) Ltd.. Hong Kong, which puts at the disposal of the organisation all their established facilities. A.M.R.O.F.E. will be able to
on their suggestions. negotiations develop rapidly. were started in Austria with the The British Embassy in London object of forming a group of im- has been informed officially by the products Austrian Federal Chamber of Com- are marketable in the Far East and merce and personally by the indus- In step with this economic recon- of establishing the head office of an trial group and Messrs. Gordon, struction it was obviously necessary industrial organisation in that place woodroffe & Co. Ltd.. of the forma- to adjust the Austrian currency to a which was recommended by the tion of this first Austrian-British level which would give her industry trade delegation.
working partnership and has found the possibility of export, without re- ducing her purchasing power for es-
The purpose of this organisation is full moral support particularly as it sential raw materials by increasing
to establish connections with local is the first partnership of its kind within the framework of the Intend- their prices.
users potential This levelling of the importers Austrian currency has been done in throughout the Far East and to re- 3 stages. At the last stage on May order to safeguard the interests of permanently on the spot in the 1st, 1953, the Austrian Shilling was definitely stabilised on the basis of 73 Austrian shillings to £1. How Fostered by the Austrian Federal Gordon, Woodroffe & Co. (London) accurate this exchange rate was has Chamber of Commerce, which is a Ltd., and the managing director of been proved by three factors.
Government department. such an Gordon, Woodroffe & Co. (Far East). organisation has been now establish- Ltd.. Mr. Armand Valensa. ed under the name of the Austrian tunately, the Hon. Trade Delegate of Manufacturers' Representative Or- Austria. Mr. F. Pordes was unable to ganisation Far East (A.M.R.O.F.E.). attend the conference as he was in 2. Price levels in the country itself For geographical reasons and on the Vienna to attend the conference of have been kept so low that Austria recommendations of the trade de- all the Austrian Trade Delegates is able to attract much tourist trade. legation the Head Office of this there.
1. A high percentage of Austrian industrial production has been made competitive in price.
main
the Austrian manufacturers.
ed European Economic Organisation.
were the Hon. Consul of Austria. Mr. Also present at the conference
J.G.S. Horn, Mr. Jack Woodroffe of
Unfor-
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