WARNING TO ARGENTINE

Chronicle (Levin), 15 October 1949, Page 5

WARNING TO ARGENTINE

( N.Z.P.A

—Reuter,

Failure To Fill Part In Trade Pact

. CopyrUjht )

EeceiVed Friday, 8.50 pf,m. LONDON, Oct. 14. A plain warning that unless thfe Argentine speedi'ly ftilfik her part ift the current Anglo-Argentine trade agreement by issuing import licence! for the entry of British goods Britain Ofl her part may refuse to take deliverjr Of Argentine meat, WaS given by the the Commoreial Minister at the British Embassy (Mf« E, E. Joint) in an ad» dress to the British Chamber of Commerce in Buenos Aires. Mr. Joint said the British authoritles Wero distreSsed beGaUsO despite the faet that BritUin had fulfilled hef part in the agreement the Argentind authorities had so far authorised relatively little business on their side. Mr, Joint stressed that Britain 's purchases from the Argentine were governed by tWO factors — her ability to pay and the price. If the Argentine prevented; Britain from paying her Way. Bflfain; might find herself unable to accept the' goods she had dontraeted to take from.' the Argentine, ! ; Unless the necessaty impOrl permitB Were Issued by the Argentine Government within a matter of weeks Britain wonld find it most difficult to compl.ete her purchasing programme in the Argentine, Mr. Joint said. He made his. speech on the eve of the meeting of the ' joint Anglo-Argentine Consultative Comimttee which is to discnss Argentine 's demands for inoreased meat prices following sterling devaluation. Aceording to a Press Association message from London the Financ.ial TimeS said Britain shonld withdraw the facilities which the Argentine secureS under the Anglo-Argentine agreement for buying fuel supplies ;n the sterling ai*ea if there is no settlement of certain questions connect'ed with the agreement. "The statement by our commercial minister in Buenos Aifes that distresS is eaused to the British authorities by the non-observance of important parts of the Anflrlo-Afgentine agreement wSs timelv. The Argentine decision not to devalne the peSo in terms of the dollar when it was a matter of exports of meat and other basie itema While devaluing it to the same extent as the sterling for import purposes is a flagrant attempt to distort the intentions of the original agreement, If a satis-. fastory settlement on these questions cannot be reached without tindue delay the Government should withdfaW the facilities Argentine secures undef the pact for purchasing fuel supplies in the, sterling area. At this point Argentine is most vulnerable. ''