MILLIONS FOR ASKING

Waipa Post, Volume 41, Issue 3187, 12 August 1930, Page 7

MILLIONS FOR ASKING

RUSSIAN TRADE WAITS. Provided the necessary credits were arranged, Russia would take from £15,000,000 to £20,000,000 worth of manufactured goods from the United Kingdom this year, said Mr S. Bron, Soviet trade representative in Great Britain, to the Daily Telegraph. He stated that he was now in negotiation for contracts to this amount for steel products, engineering, agricultural implements, and so on. Mr Bron regretted that at present there was “ a certain lack of mutual understanding between the business interests of Great Britain and Russia.” As a consequence, he said, British firms were not getting their full share of reconstruction work in Russia. The Soviet had concluded 50 agreements with Germany, and only foup with British firms. Trade with the United States was three times that of the pre-war total.

The question of credits was of great importance for the development of Anglo-Soviet 'trade, and, “ considering that our purchases consist largely of equipment for industry, which only pays for its own cost after several years’ work, more liberal terms and longer periods of credit are essential. Russian purchases are at the present time artificially restricted by the limits set to our credit facilities.”

Mr Bron asserted that “mist and misunderstanding ” had been created by anti-Soviet propaganda. There was a lack of confidence by Great Britain and also of knowledge of Russian accommodations. For steel Rus • sia was asking, no worse terms than on the Continent —about two years’ credit. For agricultural implements they wanted about three years, and for shipbuilding four years. He denied that British trade marks were being used on goods manufactured in Russia, and also that Russia was selling grain and cotton below the cost of production.

In connection with a specific assertion that Russian cotton, which would cost 8d a yard to produce in Lancashire, was being sold in a London shop at 4d a yard, “ such rumours,” Mr Bron said, “ were devoid of foundation.” “Itis a very definite policy,” he added, “ not to export cotton goods to this country at all, and I will refer you to the Board of Trade returns to substantiate that.