GREATER TRADE VOLUME
JAPAN AND STERLING AREA
NEW AGREEMENT DRAFTED Rec. 9 p.m. TOKIO, Aug. 16. A trade arrangement providing for the balanced exchange of a minimum of 242,000,000 United states dollars wortn of goods between Japan and the sterling area during the one year period from July 1, 1948. has been drafted by the Supreme Commander for the Allied and sterling area trade representatives and was announced by General MacArthur’s headquarters to-day. The draft, which will be referred to SCAP and the sterling area Governments involved for approval, would increase the volume of trade between these countries by three and a-half times.
Under the terms of the plan, Japan will sell to the sterling area cotton textiles, raw silk, silk rayon and wool manufactures, industrial machinery and parts, rolling stock, paper and paper products, and also various chemicals. In exchange, Japan will purchase raw cotton, raw wool, jute, wool waste and rags, hides, skins, cereals, iron and other ores, gums, resins, crude rubber, coal, salt, oilseeds and coconut oil.
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Bibliographic details
Otago Daily Times, Issue 26852, 17 August 1948, Page 5
Word Count
170GREATER TRADE VOLUME Otago Daily Times, Issue 26852, 17 August 1948, Page 5
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