AN AGREEMENT

Southland Times, Issue 22214, 5 January 1934, Page 5

AN AGREEMENT

INDIA AND JAPAN

TRADE NEGOTIATIONS CONCLUDE

COTTON CLAUSES

(United Press Assn.—Telegraph Copyright.) (Rec. 1.40 p.m.) Calcutta, January 4. Prolonged Indo-Japanese trade negotiations at New Delhi ended with the acceptance by the Japanese of the Indian terms. It is expected that an agreement will be concluded to-morrow under which India will grant Japan most favoured nation treatment, imposing no discriminatory tariff. Under the cotton clauses Japan exports annually to India (1) 125,000,000 yards of cotton piecegoods without obligation; (2) 325,000,000 yards in exchange for the purchase of 1,000,000 bales of cotton; or (3) a maximum of 400,000,000 yards or 1,500,000 bales. Japanese imports will be regulated according to the piecegoods categories. Japan also recognizes India’s right to safeguard and protect her industries, though she is free to make representations if it is considered that India’s policy works harshly against her. The trade balance under the agreement will depend probably on Indo-Japanese trade in sundry goods whose volume is at present indeterminable owing to new tariff changes. A report from London says that the news of the Indo-Japanese cotton agreement was received with satisfaction in Lancashire. The way is now open for London discussions between the Japanese trade delegation and the leaders of the Lancashire cotton industry.

OPINION IN JAPAN

MUTUAL SATISFACTION.

(United Press Assn.—Telegraph Copyright.) (Rec. 1.35 a.m.) Tokio, January 4. Officials consider that the Delhi cotton agreement will prove mutually satisfactory. The council of the Federation of Spinners of Osaka to-day agreed to call off the boycott of Indian raw cotton on the date of the promulgation of the tariff change.