FLOW OF 1948 TRADE
BRITAIN : GERMANY RECIPROCAL SYSTEM (11 a.m.) LONDON, May 13. Britain and the authorities of the bizonal area of western Germany have reached an agreement for a mutual exchange of goods worth £40,000,000 during 1948. The pact calls for the shipment in 1943 by each party of goods up to the value of £20,000.000. The pact makes Britain West Germany’s largest recipient of exportable goods. The Board of Trade, in announcing the agreement, said the bizonal would receive from the sterling area supplies of raw materials such as wool, cotton, hides, rubber and jute.
The board added that the meeting in Frankfurt at which the agreement was reached afforded fruitful discussions about the scope for trade and gave grounds for confidence that the good start which had been made would be developed. Britain in 1947 was Bizonia’s biggest customer, importing about £ 13,750,000 worth of goods from Germany and exporting £12,000,000 worth to the occupied area. HUNGARY~AND POLAND (11 a.m.) BUDAPEST, May 13. Hungary and Poland have signed a five-year ponnomic agreement.
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Bibliographic details
Gisborne Herald, Volume LXXV, Issue 22637, 14 May 1948, Page 5
Word Count
174FLOW OF 1948 TRADE Gisborne Herald, Volume LXXV, Issue 22637, 14 May 1948, Page 5
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