BRITISH TRADE WITH SOVIET

Press, Volume LXXI, Issue 21536, 27 July 1935, Page 18

BRITISH TRADE WITH SOVIET

LEADING EXPORTER PROSPECTS OF INCREASE LONDON, June 25. ' Official Soviet statistics for the first four months of 1935 show that Great Britain Is maintaining her position as the principal exporter of goods to Russia. Germany continues to bis the largest importer of Soviet products, although German sales to Russia con*tinue at a low level. British goods valued at 13,600,000 roubles (about £2,400,000) were imported by Russia during the four months, and exports; to Great Britain during the sam 6; period were 11.800.000 roubles, writes j the Moscow correspondent of the "Manchester Guardian." Germany, which for a number o| years has sold much more than any other country to the Soviet Union, exported goods valued at only 5,000,000 roubles, whilst imports to Germany. totalled 23,300,000 roubles. .The figures: for the other countries leading in Soviet trade were: Imports to U.S.S.B,' States, 7,200,000 "rdubletef France, 4,600,000; Holland, 4,500,000; Iran (Persia), 10,100,000. Imports from U.S S.R.—United States, 5,5O0,«0O; France, 3,503,000; Holland, 1,100>000; Iran, 5,900,000. The total Soviet imports for the four months were 60,100,000 roubles and the exports were 87,500,000 roubles. The Soviet Union continues to be a substantial exporter of cotton-cloth goods to the Eastern countries, whilst its own imports of cotton cloth, which are usually of the better-quality goods, continue negligible, being valued at slightly less than £IOOO for the four months. The cloth exports totalled 7120 metric tons, valued at a little more than £1,000,000. The principal buyers of Soviet cloth were these countries, in the amounts shown, in roubles: Afghanistan, 720,000; Germany, 163.000; Iran, 2,471,000; Turkey, 172,000; South American countries, 353,000. During the period Soviet organisations imported 10,407 metric tons of cotton, valued at 3,851,000 roubles (nearly £700,000), and simultaneously exported 2407 tons valued at 586,000 roubles. Strong Trade Position The impression prevails in foreign trade quarters in Moscow that Soviet organisations will continue to favour the British market in making purchases. There is no complaint about! the quality of British goods or the performance of British equipment, and the political relations between the two countries enhance the prospect for trade development Tine Soviet Government's foreign trade position is stronger than ever In its history. It has achieved substantial favourable balance of trade for the last two years, it has Increased its gold production startlingly in two years, and the rate of increase is being accelerated, and it has extracted unsuspected reserves of gold and foreign currencies from the population through the special "foreign valuta" shops of Torgsin. Its trading organisations are now able to enter foreign markets as cash buyers, and they are prepared to ins'st on gaining all the advantages of this position.