OUTLET IN RUSSIA

Evening Post, Volume CIX, Issue 32, 7 February 1930, Page 9

OUTLET IN RUSSIA

BRITISH MANUFACTURES

COMMONS DEBATES POSITION

British Official WLreltss.

RUGBY, sth February.

Hiss Ellen Wilkinson (Labour) initiated in tho House of Commons a de> bate on trade with Russia. She moved:

That in" view of the grave state of unemployment in this country, particularly in heavy industries, and the imperative need for new markets for British goods, the Government should energetically explore every avenue which would lead to increased trade with Russia, and that in order to put this trade on a stable basis a commercial agreement should bo arranged between the two countries.

Mr. G. 3VI. Gillett, Secretary for the Overseas Trado Department, replying to the discussion, said his Department had done what was often done by goahead business firms. It had sent out representatives to investigate the position in Russia. The Government was doing everything possible to increase trade with Eussia. If Eussia desired to raise credit in this country, a settlement of various debt questions was a fundamental necessity if any large amount of money was going to be secured in this country. When one looked at the position of the London m'ney market to-day, based on the re-<-.<s»t financial crisis, and tho effect of the great slunip iji the United States, one knew perfectly well that for any country at present there wero special difficulties in, raising loans on the London money market.

The Government had to bear this matter in mind, and it was impossible to expect that to any great extent it could be responsible for finding credit for any other Government under present conditions. There was evidence that a large proportion of tho business done- with Russia would not have been undertaken without the assistance of the Exports Credit System. The action of the Labour Government in opening negotiations with Russia had already resulted to a small extent in an increased export trade, and what was equally or more important, a better feeling between the two nations, which was likely to lead to better results in the future. The Government hoped very shortly that a commercial agreement would be entered into between the two countries.

The motion was agreed to.

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