BRITISH TRADE WITH BRAZIL

Press, Volume LXXXII, Issue 24987, 23 September 1946, Page 5

BRITISH TRADE WITH BRAZIL

NEW AGREEMENT LIKELY

(Rec. 10.30 p.m.) LONDON, Sept 21. The policy of Britain’s Foreign Secretary (Mr Bevin) was'to put prosperity and economics before politics and diplomacy, said a Foreign Office spokesman, commenting on an exchange of letters between Mr Bevin and the Brazilian Foreign Minister (Mr Dafontoura). The letters will be the basis of a new trade agreement, under which Brazil will, buy British agricultural machinery, motor-cars, and railway equipment to the limit of availability. Britain will buy meat, rice, maize, coffee, nuts, hides, and timber. Brazil for her purchases will draw upon a sterling balance of £40,000.000 and also £10,000,000 sterling transferred to Brazil’s account from the Argentinian settlement. Brazil is said to be prepared to spend her entire balances in Britain. Brazi?»announced that she was prepared to lend money for the rehabilitation of British-owned enterprises, mainly traction power companies. Priority for aviation equipment has teen requested by Brazil, and Britain, pending the early negotiation of a civil air agreement, has asked Brazil to facilitate an increase of services by British-South American Airways.