TRADE AGREEMENT

Evening Post, Issue 87, 9 October 1936, Page 9

TRADE AGREEMENT

BRITAIN AND PERU

(British Official Wireless.}

RUGBY, October 6.

A trade agreement between the United Kingdom and Peru was signed at Lima yesterday, and is .to come into force on exchange of ratifications. The tariff articles of the agreement are to take effect provisionally in about a week's.time.

The agreement provides for reciprocal most-favoured-nation treatment of goods in respect of Customs duties, Customs formalities, and import prohibitions, and also in respect of the exercise of commerce and industry in general. Peru undertakes to accord benevolent treatment to public utility and other undertakings in Peru in which British capital is invested. United Kingdom goods enumerated in the schedule annexed to the agreement are not to be subjected in Peru td Customs duties higher than those specified in the schedule.

The schedules of rates represent a reduction of higher duties fixed in February, 1936, by a new Peruvian Customs tariff in respect of various classes of cotton, woollen, linen, and artificial silk fabrics, and some other clauses of goods of interest, to the United Kingdom. Conventionalisations of the Peruvian tariff rates of duty have been secured in respect of numerous classes of goods of, United Kingdom origin.

As regards tariff treatment of Peruvian products, the' United Kingdom undertakes to maintain duty free admission for Peruvian raw cotton, cinchona bark, and specified varieties of wool, and not to levy a duty of more than 10 per cent, ad valorem on Peruvian raw balata tra and raw guano.

Such ot tha cnbio nmvs on this paste as Is bo headed uas appeared in "The Times" and i 3 cabled to Australia aud New Zealand by special permission. It should be understood that tho opinions aro not those.of "The Times" unless expressly staled to bo so.