BRITAIN’S TRADE WITH CHINA

Southland Times, Issue 23026, 21 October 1936, Page 5

BRITAIN’S TRADE WITH CHINA

NEW REPRESENTATIVE APPOINTED NO TRUTH IN RUMOUR OF LOAN (British Official Wireless.) (Rec. 5.5 p.m.) Rugby, October 19. The Exports Credits Guarantee Department has announced that it has appointed a representative to go out to China to examine and consider on the spot the proposals submitted for guarantees in connection with the export of United Kingdom goods. The new representative, who will work in close contact with the Commercial Counsellor to the British Embassy, will make any detailed investigations required and will assist, if necessary, with negotiations. He will not initiate propositions or seek orders, but will be concerned solely with the financial and economic merits of proposals for the export of United Kingdom goods. Exports to China have always been within the scope of the scheme, and the present appointment simply provides the machinery for facilitating its application. The announcement points o t that the Export Credits Guarantee Department deals with exporters in the United Kingdom only, and adds that there is no truth in the reports which have been circulated that a loan or a credit has been negotiated with the Chinese Government.

The department has appointed as its representative Mr W. M. Kirkpatrick, who for many years represented British commercial financial interests abroad. Mr Kirkpatrick’s appointment will necessitate the resigning of his seat in Parliament, held since 1931 as one of the two Conservative members for Preston. This makes the fifth byelection pending. The Daily Telegraph regards Mr Kirkpatrick’s appointment, which is the only one of its kind, as an indication of a new drive for trade. It is considered that the more stable Chinese conditions are now favourable to large developments, electrifications, drainage systems and railways, for which Germany, Belgium and Czechoslovakia are bidding. AGREEMENT WITH INDIA EXTENDED OTTAWA TRADE TREATY. (British Official Wireless.) Rugby, October 19. In view of the fact that negotiations are now in progress between his Majesty’s Government and the Government of India for a trade agreement to replace that concluded at Ottawa in 1932, which terminates on November 13, it has been agreed by the two governments that pending a new agreement the 1932 agreement shall continue in force, subject to termination at three months’ notice by either side, unless it is replaced by a new agreement.