BRITAIN AND TURKEY

Waikato Times, Volume 117, Issue 19596, 7 June 1935, Page 5

BRITAIN AND TURKEY

AN AGREEMENT SIGNED

~ TRADE AND PAYMENT.

IMPORTATION OF GOODS

(omclal Wireless.) RUGBY, June 5. An Anglo-Turkish trade and payment agreement was signed at Angora yesterday. Pending the exchange of ratification it will come into force provisionally on June 20. in the House of Commons to-day Mr D. J. Colville, Parliamentary Secretary to the Overseas Trade Department, said the basis of the agreement is that the Turkish Government undertakes to make available in payment for British goods exported to Turkey 70 per cent of the sterling resulting from Turkish exports to Britain. Tfie balance of 30 per cent is to be retained by Turkey to meet freight and other invisible Hems. Payments In respect of the Turkish exports to this country are to be made by the Importers Into a special sterling account. The Turkish Government, subject to certain exceptions, also agrees to allow British goods held up in the Turkish Customs to be imported into Turkey without restrictions, to allow an unrestricted importation of a considerable range of goods of interest to British exporters, and to allocate quotas to a further range of British goods. All other British goods will receive the same treatment, under the general quota regime in force in Turkey, as is accorded to other countries with which Turkey has clearing agreements. The British Government, on its side, undertakes to reduce the duty on figs and fig-cake and not to impose any duty on raw mohair, or to increase the existing 10 per cent ad valorem .duly on valonia and hazel nuts not in shelf.