NEW BRITISH POLICY

Evening Post, Volume CXV, Issue 102, 3 May 1933, Page 9

NEW BRITISH POLICY

ARGENTINE CONVENTION

TEXT PUBLISHED

(British Official Wireless.) (Received May 3, noon.) RUGBY, May 2. Tho text is published tonight of the Anglo-Argentino Trade Convention, signed yesterday by Dr. Roca, head of the special Argentine mission to Britain, and tho President of tho Board of Trado (Mr. Walter Runciman). Tho subjects dealt with in tho convention are the treatment of the Argentine meat, tho exchango position in Argentine, and tho tariff treatment of both countries' goods. ■ The articles dealing with Argentine meat provide that, if it should became necessary, in order to secure remunerative prices in the United Kingdom; market, to reduce the various categories of Argentine meat below the Ottawa levels, the effect upon the price level desired shall not be negatived by replacing these reduced imports from the Argentine by Increased imports of meat from other countries, Including the British Dominions. Argentine meat is promised fair and equitable treatment. Regarding the exchange position the agreement provides that after the deduction of a,,reasonable sum annually towards tho payment of the service of Argentine's public external debts in countries othor than,the United Kingdo^i, tho full amount of tho sterling exchango resulting from tho United Kingdom's purchases of Argentine procluco will be made available for current' remittances to the United Kingdom. Frozen peso balances will bo funded by an issuo by tho Argentine Government of sterling bonds. Regarding tariffs a suplomcntary agreement containing provisions as to duties and quantitative regulations to be applied by each country •to the other's goods will be concluded as soon as possible, and will form an essential part of the convention. If this supplementary agreement is not concluded by August 1 next, the convention may be ended by cither party at one month's notice. Any dispute which may arise shall at the request of either party bo submitted to tho Hague Court, unless both agreo ,to some other, tribunal or procedure. The convention comes into force when ratifications .are exchanged, and will remain in force for three years, and bo terminable at six months' notice.' Ratifications will bo exchanged in London as early as possible.