Anglo-Rumanian Trade Pact Completed

Northern Advocate, 13 May 1939, Page 7

Anglo-Rumanian Trade Pact Completed

(Received 10 a.m.) LONDON, May 11. The successful conclusion of the Anglo-Rumanian trade negotiations was announced in the House of Commons by Mr Oliver Stanley, President of the Board of Trade, who intimated that the agreement provided for £5,000,000 in export credit guarantees for Rumania. He said: — “The discussions which have been taking place between ( the Rumanian Government and the British Commercial Mission have been successfully concluded, and the protocol has been signed to-day at Bucharest. It provides for a number of measures to be taken for the {Dromotion of trade between the two countries, primarily through normal commercial channels. “It envisages the formation of a trading organisation to promote AngloRumanian trade; it outlines various amendments in the present payments agreement for the same purpose. It also provides for the guarantee of facilities to the amount of £5,000,000, to bo made available to the Rumanian Government for the purchase of United Kingdom goods. “The British Government will purchase for Government stocks 200,000 tons of Rumanian wheat from the next harvest, if available at world prices.” The text of the agreement is to be published in both countries to-mor-row. Formal instruments to give effect to these arrangements are to be drawn up in London, and a Rumanian delegation will leave for London as soon as possible.