BRITISH AND JUGOSLAV TRADE PACT

Greymouth Evening Star, 22 September 1949, Page 5

BRITISH AND JUGOSLAV TRADE PACT

LONDON, September 21 (Rec. 10.50 a.im).—A five-year trade pact between Britain and Jugoslavia, involving business, amounting to £200,000,000, is in sight, says Reuter’s diplomatic correspondent. Mr Noel Paterson, of the British Board of Trade, flew to Belgrade on September 19 to assist in working out actual, details of the pact draft. . . Marshal Tito wants machinery, 'plant and oil refinery equipment. He will send Britain timber and agricultural produce, including maize, which otherwise would have to be bought from the dollar area. The new agreement is- to replace the current one-year pact, which provides for trade amounting to £30,000,000. It will be the biggest East-West'European agreement to be negotiated. The two nations’ representatives haVe agreed on the compensation to be paid to British firms; whose plant in Jugoslavia has been nationalised. Britain has also made provision to grant Marshal Tito credit of £8,000,000. It is understood that, trade talks with another Iron Curtain country, Czechoslovakia, are making progress after a slow start. Negotiations are also continuing for a long-term agreement with Russia.