BRITAIN AND ARGENTINA

Nelson Evening Mail, Volume LXVI, 3 May 1933, Page 5

BRITAIN AND ARGENTINA

.TEXT OF AGREEMENT 'British Official Wireless) RUGBY, 2nd May. The text was published to-night of the Anglo-Argentine trade convention, signed yesterday by Dr Roca, head of the special Argentine mission to Britain, and Mr Runeiman. The subjects dealt with in the convention are the treatment of Argentine meat, exchange position in Argentine, and tariff treatment of both countries’ goqds. The articles dealing with Argentine meat provide that if it should become necessary in order to secure remunerative prices in the United Kingdom market to reduce the various categories of Argentine meat below the Ottawa levels, tlfe effect upon price level desired shall not he negatived by replacing these reduced imports from 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 payment of Argentine’s public external debts in countries other than the United Kingdom, the full amount of sterling exchange resulting from United Kingdom purchases of Argentine produce will be made available for current remittance to the United Kingdom. Frozen peso balance will he funded by the issue by the Argentine Government of sterling bonds. Regarding tariffs, a supplementary agreement containing provisions as to the duties and quantitative regulations toi be applied by each country to the ether’s goods will be conducted as soon as possible, and will form an essential part of the convention. If this supplementary agreement is not concluded by Ist August next the convention may be ended by either party at a month’s notice.

Any dispute arising shall at the request of either party be submitted to The Hague Court unless both agree to some other tribunal or procedure. The conversion comes into force when ratifications are exchanged, and will remain in force for three years and be terminable at six months’ notice. Ratifications will he exchanged in London as early as possible. Answering' a number of questions regarding trade agreements negotiated and projected, Mr Runeiman in the House.of Commons said the text of an agreement with Sweden was being prepared for early signature. The agreement with Denmark, laid before the House last week, would, he estimated, result in an annual increase of British exports to Denmark of about £1,200,000, representing an increase in employment of nearly 0000 persons. Detailed negotiations with Finland would begin oil 23rd May. When general trade negotiations with the German Government opened, probably after the World Economic Conference, the question of German duties on British cotton yarns would be raised.

Mr Eunciman stated that he recently discussed with the Japanese Ambassador the fpiestion of Japanese competition with British goods in world markets, and asked him to put certain suggestions before his Government. Mr Eunciman promised to make a statement on this subject in the near future. (Received 3rd May, 12.55 p.m.) LONDON', 2nd May. 'file Argentine agreement provides for a consultation of the chief meat exporting countries, including the dominions. In tile event of a reduction in Argentine chilled beef becoming necessary also, imports of Argentine chilled beef will not he reduced more than 10 per cent, below the imports for the year ended 30th .Tune 1932 unless the imports of chilled beef (apart from reasonable experimental shipments) or frozen meat from all meat exporting countries, .11eluding the dominions, are also reduced by a percentage equalling the percentage of reduction of Argentine chilled beef below 90 per cent, of imports in die corresponding quarter of tbe year ended 301}i June 1932. Britain undertakes not to restrict imports of frozen beef, mutton and lamb in excess of those specified in schedule II to the Auglo-Australijan agreement of 20th August 1932, unless the dominions’ imports are restricted. Argentine sterling bonds are issued at 4 per cent., repayable within 20 years.