P.M.11/1959

MEETING OF COMMONWEALTH AND STATE OFFICIALS

ON OVERSEAS INVESTMENT.

Statement by the Prime Minister.

The Prime Minister announced today that a meeting of Commonwealth and State officials would be held in Canberra next Monday (6th April) to discuss action being taken in Australia and abroad by the Commonwealth and State Governments to attract private investment from overseas.

Last September Mr. Menzies announced that the Commonwealth would review, co-ordinate and, where necessary, improve the facilities and information provided through its overseas agencies to prospective investors.

"We recognise that Commonwealth activity in this field should be developed in co-operation with the investment promotion activities of the States and private business interests," Mr. Menzies said today.

"The meeting next week will discuss ways of arranging continuing co-operation between the Commonwealth and the States."

CANBERRA, A.C.T.

2nd April, 1959.