COTTON TRADE
Kosygin offer (NZPA-Seuter— Copyright) LONDON, Dec. 22. The Soviet Prime Minister (Mr Alexei Kosygin) has offered 50,000 tons of Russian cotton in exchange for Lancashire cotton goods to ease unemployment in Britain, it was disclosed yesterday. A Labour Party member of Parliament, Mr Charles Morris, Parliamentary private . secretary to the Opposition ( Leader (Mr Harold Wilson), said that the offer was made to Mr Wilson during his visit, to Moscow in September. , Mr Morris said negotiations were still at an early stage, but the deal would be worth an estimated £16,300,000 (about $35 million) if it went through, although no cash would be involved. He said that the unsolicited offer was made by Mr Kosygin because of his concern for developing employment in the Lancashire textile industry. A spokesman for the Man-chester-based Textile Council, which represents the manmade fibre and cotton industry, said: "12,000 people have left the cotton industry in the last years. We need a fill-in of this sort. “If his materialises, it is very good news.”
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Bibliographic details
Press, Volume CXI, Issue 32797, 23 December 1971, Page 13
Word Count
170COTTON TRADE Press, Volume CXI, Issue 32797, 23 December 1971, Page 13
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