BRITAIN AND PERU

Evening Star, Issue 22465, 9 October 1936, Page 9

BRITAIN AND PERU

TRADE AGREEMENT SIGNED TERMS OF MUTUAL ADVANTAGE, (British Official Wireless.) Press Association—By Telegraph—Copyright RUGBY, October 7. A trade agreement between the United Kingdom and Peru was signed at Lima and will coino into force on exchange of ratifications. The tariff articles of the agreement are to take effect provisionally in about a week’s time. The agreement provides for reciprocal most-fa voured-nation treatment of goods in respect to Customs duties, Customs formalities, and import prohibitions, and in respect to tho exorcise of commerce and industry in general. Peru undertakes to accord benevolent treatment to public utility and other undertakings in Peru in which British capital is invested. United Kingdom goods enumerated in a schedule annexed to the agreement are not to be subjected in Peru to Customs duties higher than are specified in the schedule. Tho schedule’s rates represent a reduction of the higher duties fixed in February, 1936, by the new Peruvian Customs tariff in respect to various classes of cotton, woollen, linen, and artificial silk fabrics and some other classes of goods of interest to the United Kingdom. Conventionalisation of the Peruvian tariff rates has been secured in respect to numerous classes of goods of United Kingdom origin. As regards tariff treatment of Peruvian products the United Kingdom undertakes to maintain duty free admission for Peruvian raw cotton, cinchona, cork, and specified varieties of wood, and not to levy duty of more than 10 per cent, ad valorem on Peruvian raw balata and raw guano.