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Wednesday, 16 August 1972
Page: 256


Mr SPEAKER - Order! I appreciate what the honourable member is saying but we are dealing with a Bill to increase the capital subscription to the Asian Development Bank. The Chair has been fairly lenient and I now ask the honourable gentleman to come back to the Bill.


Dr GUN - Thank you, Mr Speaker. I propose to say only a few more words on this subject. If we are to have multilateral trading arrangements let us see whether we can give a little more sympathy to the underdeveloped countries around the area. In the brief period that the present Minister for Education and Science (Mr Malcolm Fraser) was on the back bench last year, he suggested a sort of trading arrangement with Canada, Japan and New Zealand. I would like to see us oriented to the more needy countries such as Indonesia, India, Bangladesh and countries like that. Of course, above all I have in mind Papua New Guinea towards which we have a special responsibility.

I have only one other point to make. I think that the Australian Government ought to encourage greater facility in the provision of indigenous banking activities within these countries. I recently visited Papua New Guinea, and it was drawn to my attention that there is no indigenous savings bank within the Territory, although there in the Development Bank to which my colleague the honourable member for Melbourne Ports referred. Most of the savings of indigenous people in Papua New Guinea are going, I gather, towards the provision of housing loans back in Australia because, of course, most of the banks are based within Australia. One of them, of course, is based in the United Kingdom. This is another matter to which we ought to give attention. Firstly, there is the question of trade and, secondly, the provision of more indigenously owned and indigenously based banking facilities within the recipient countries.







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