TRADE RELATIONS

Otago Daily Times, Issue 23807, 13 May 1939, Page 13

TRADE RELATIONS

BRITAIN AND RUMANIA THE AGREEMENT SIGNED BUCHAREST, May 11. The trade agreement between Britain and Rumania has been signed. It includes £5,000,000 credit and the purchase of 200.000 tons of Rumanian wheat. EXPORT CREDITS GUARANTEES FOR RUMANIA i British Official Wireless i RUGBY, May 11. (Received May 12, at 6.30 p.m.) 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 £5,000,000 in export credit guarantees for Rumania. He added: "The discussions which have been taking place between the Rumanian Government and the British Commercial Mission have been successfully concluded, and a protocol has been signed to-day at Bucharest. It provides for a number of measures to be taken for the promotion of trade between the two countries, primarily through normal commercial channels. It envisages the formation of a trading organisation to promote Anglo-Rumanian trade, and it outlines various amendments in the present payments agreement for the same purpose. It also provides for guarantee facilities to the amount of £5.000,000 to be made available to the Rumanian Government for the purchase of United Kingdom goods. The British Government will purchase for the Government stocks 200,000 tons of Rumanian wheat from the next harvest if available at world prices.

The text will be published in both countries to-morrow, and formal instruments to give effect to these arrangements will be drawn up in London. A Rumanian delegation will leave for London as soon as possible.