NEW COMMERCIAL AGREEMENT

Press, Volume LXX, Issue 21213, 11 July 1934, Page 11

NEW COMMERCIAL AGREEMENT

GREAT BRITAIN AND LITHUANIA TERM EXTENDS TO 193 ft (BRITISH omtUl. WIKEtSSS.) (Received July 10, 7.5 p.m'.) RUGBY, July 9.. The commercial agreement between the United Kingdom and Lithuania will come into force 10 days after the exchange of ratifications, for the period ending December 31, 1936, after which it will be subject to denunciation at bix months' notice on either fide. Lithuania obtains the benefit ol most-favoured nation treatment for her exports to Great Britain, which is her most important market. No new United Kingdom tariff concessions are granted. British undertakings in the treaty affecting agricultural products are in accordance with the Government's general agricultural policy. . Reductions m Lithuanian customs duties, notably on coal, coke, herrings, textiles, motor-cars, motorcycles, iron and steel are granted, and undertakings are given about tire application to British trade or the imposition and operation of import restrictions, and operation ot export restrictions in Lithuania. Lithuania undertakes that not less than 70 per cent, of her total imports of coal and 50 per cent, of coke shall be obtained from the United Kingdom. Lithuania also undertakes to encourage the use of British shipping in her trade with Britain and to refrain from any action which would prejudicially affect existing British shipping in that trade so long as existing freight rates and services are maintained. In the event of a substantial change being made, consultation before action is promised.