ANGLO-TURKISH FRIENDSHIP

Southland Times, Issue 22994, 14 September 1936, Page 7

ANGLO-TURKISH FRIENDSHIP

Statesmen To Meet In London (United Press Assn.—Telegraph Copyright.) Angora, September 11. A strong Turkish delegation, headed by the Prime Minister (General Ismet Inonu) is going to London early in October to discuss Anglo-Turkish collaboration, in response to King Edward s invitation. It will include the Foreign Minister, the Chief of the Turkish General Staff, and representatives of the navy and the air force. NEW TRADE AGREEMENT ■ REDUCING DELAYS IN PAYMENTS. (British Official Wireless.) Rugby, September 11. On September 2 a new trade and clearing agreement, the text of which was published to-night, was signed between the United Kingdom and Turkey. It comes into force on September 17 and replaces the trade and payments agreement signed on June 4, 1936. The articles relating to trade repeat the substance of corresponding _articles of the agreement of June 1935, but the effect of the provisions for payment is to place Anglo-Turkish trade in future on a full clearing basis. Of the sums received by the clearing office 70 per cent, will be used for the settlement of debts on United Kingdom goods exported to Turkey and 30 per cent, will be placed at the free disposal of the Central Bank of Turkey. Provision is made for compensation transactions, involving the exchange of certain goods between Turkey and the United Kingdom, and also for the import of certain Turkish goods into the United Kingdom in settlement of outstanding trad? debts. The effect of the new agreement should be a material reduction in the delays in payment which at present are experienced by British traders, shown by the fact that over £1,000,000 was blocked in Turkey awaiting payment to British creditors at the end of August.