BRITAIN WARNS ARGENTINA TO HASTEN FULFILMENT OF ROLE IN TRADE AGREEMENT

Otago Daily Times, Issue 27212, 15 October 1949, Page 7

BRITAIN WARNS ARGENTINA TO HASTEN FULFILMENT OF ROLE IN TRADE AGREEMENT

New Zealand Press Association—Special Correspondent Rec. 8.30 p.m. LONDON, Oct. 14. A plain warning that, unless the Argentine speedily fulfils her part in the current Anglo-Argentine trade agreement by issuing import licences for the entry of British goods Britain on her part may refuse to take delivery of Argentine meat, was given by the Commercial Minister at the British Embassy, Mr R. E. Joint, in an address to the British Chamber of Commercfe in Buenos Aires.

Mr Joint said the British authorities were distressed because in spite of the fact that Britain had fulfilled her part in the agreement, the Argentine authorities had so far authorised relatively little business on their side. Mr Joint stressed that Britain’s purchases from the Argentine were governed by two factors—her ability to pay and the price. If the Argentine prevented Britain from paying her way, Britain may find herself unable to accept the goods she had contracted to take from the Argentine. Unless the necessary import permits were issued by the Argentine Government within a matter of weeks, Britain would find it most difficult to complete her purchasing programme in the Argentine.

Mr Joint made his speech on the eve of a meeting of the joint AngloArgentine Consultative Committee, which is to discuss the Argentine’s demands for increased meat prices following sterling devaluation The Financial Times said that Britain should withdraw the facilities which the Argentine secures under the Anglo-Argentine agreement for buying fuel supplies in the steriing area if there is no settlement of certain questions relating to the agreement. “The statement by our commercial Minister in Buenos Aires that distress is caused to British authorities by the non-observance of important parts of the Anglo-Argentine agreement was timely. “The Argentine decision not to devalue the peso in terms of the dollar when it was a matter of exports of meat and other basic items, while devaluing it to the same extent as sterling for import purposes, is a flagrant attempt to distort the intentions of the original agreement,” says the Financial Times. “If a satisfactory settlement on these questions cannot be reached without undue delay, the Government should withdraw the facilities which Argentina' secures under the pact for purchasing fuel supplies hr the sterling area. At this point the Argentine is most vulnerable.”