BRITISH TRADE WITH PERU

Press, Volume LXXII, Issue 21909, 9 October 1936, Page 11

BRITISH TRADE WITH PERU

RECIPROCAL BENEFITS UNDER

NEW AGREEMENT

IBUXXISH OFFICIAL WIRELESS.)

RUGBY, October 7.

The trade agreement between the United Kingdom and Peru was signed at Lima and, is to come into force on an exchange of ratifications. The tariff articles of the agreement are to take effect' provisionally in about a week’s time. The agreement provides for the reciprocal “most favoured nation” treatment of goods for customs duties, custdms formalities and import prohibitions, and also for the exercise of commerce and industry in general. Peru undertakes to accord benevolent treatment to public utility and other undertakings in Peru in which British capital is invested.

United Kingdom goods enumer- ! ated in a schedule annexed to the ; agreement are not to be subjected in Peru to customs duties higher than specified in the schedule. The rates in the schedule represent a re--1 duction of the higher duties fixed in February by the new Peruvian customs tariff in respect of various classes of cotton, woollen, linen, and artificial silk fabrics and some other classes of goods of interest to the United Kingdom. The Peruvian tariff rates and duty for numerous classes of goods of United Kingdom origin have been made conventional. The United Kingdom undertakes to maintain duty-free admission for Peruvian raw cotton, cinchona, cork, and specified varieties of wool and not to levy a duty of more than 10 per cent, ad valorem on Peruvian raw guano.