EXPORT CREDITS

Wairarapa Times-Age, 14 July 1939, Page 3

EXPORT CREDITS

GUARANTEES TO GREECE & RUMANIA AGREEMENTS CONCLUDED. SOME LEADING DETAILS. (British Official Wireless.) RUGBY, July 12. Agreements regarding export credits guarantees have been concluded with both Rumania and Greece. In the case of Rumania the amount to be guaranteed is approximately £5,000,000, while for Greece it is just over £2,000,000.

A Board of Trade official announcement says the Rumanian guarantee agreement, together with the agreement, regarding trade and payments, was signed today.

The guarantee agreement, which takes the form of an exchange of letters, provides for the giving of guarantees by the Board of Trade in connection with purchases of United Kingdom goods by Rumania. A protocol to the agreement regarding trade payments provides for the purchase in the United Kingdom of cotton yarns, woollen and worsted yarns and carded wool, to the value of three-quarters of a million sterling. This agreement ■amends the existing payments agreements in various ways intended to facilitate trade and payments between Rumania and Britain, such as the more rapid repayment of outstanding trade debts, etc. It also provides for the establishment of a consultative committee, whose function will be to consider from time to time any difficulties that may arise.

The agreement with Greece was also made by an exchange of letters.