Statement made by the delegate of Basutoland

Abstract

This statement presented by the head of the delegation of Basutoland at the seventh session of the Economic Commission for Africa. The representative on his statement outlines that the Basutoland is reputed for its wool and mohair as well as hides and skins, and there is still tremendous room for improvement in this field. As a recent report on Importation and Exportation of Livestock and Agricultural produce shows, the consensus of opinion seems to be that there must be more Government initiative in economic affairs and that the choice is no longer between the classical laissez-faire doctrine and planning but between planning and no development at all. Basutoland is economically dependent on the Republic's extractive and secondary industries to provide employment, and at present derives 26 per cent of her public revenue from customs and excise duties collected by South African authorities and shared on the basis of a customs agreement. Moreover, Basutoland has already entered into a currency union with South Africa.