ARGENTINE TRADE AGREEMENT

Press, Volume LXXXV, Issue 25935, 15 October 1949, Page 7

ARGENTINE TRADE AGREEMENT

British Protests At Import Policy

MEAT PURCHASES MAY CEASE (Special Correspondent N.Z.P.A.) (Rec. 8 p.m.) LONDON, October 14. A plain warning that unless the Argentine speedily fulfils her part in the current British-Argentine trade agreement by issuing import licences for the entry of British goods, Britain may refuse to take delivery of Argentine meat was given by the Commercial Minister at the British Embassy (Mr R. E. Joint) in an address to the British Chamber of Commerce in Buenos Aires.

Mr Joint said that British authorities were distressed because in spite of the fact that Britain had fulfilled her part in the agreement the Argentine authorities had so far authorised relatively little business on their side.

He emphasised that Britain’s purchases from the Argentine were governed by two factors —her ability to pay and the price. If the Argentine prevented Britain from paying her way, Britain might find nerself unable to accept goods she had contracted to take from the Argentine. Unless the necessary import permits were issued by the Argentinian Government within a matter of weeks Britain would find it most difficult to complete her purchasing programme in the Argentine. The "Financial Times” says that Britain should withdraw facilities which the Argentine secures under the British-Argentine agreement for buying fuel supplies in the sterling area if there is, no settlement of certain questions connected with the agreement. “The statement by our Commercial Minister in Buenos Aires that distress is caused to British authorities by the non-observance of important parts of the agreement was timely,” the journal said.

“The Argentine decision not to devalue the peso in terms of the dollar when it is a matter of exports of meat and other basic items, while devaluing it to the same extent as sterling for import, purposes is a flagrant attempt to distort the intentions of the original agreement.”