BRITISH CREDITS

Gisborne Herald, Volume LXVI, Issue 19988, 13 July 1939, Page 6

BRITISH CREDITS

TRADE GUARANTEES

RUMANIA AND GREECE

AGREEMENTS CONCLUDED

EXCHANGE OF LETTERS

(Kl(*c. Tel. Copyright—United Press Assn.)

(British Official Wireless.)

Reed. 1.30 p.m. 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 tor Greece it is just over £2,000,000.

An official announcement of the Board of Trade says that a Rumanian guarantee agreement, together with the agreement regarding trade and payments was signed to-dav. The guarantee agreement, which takes the form of an exchange of letters provides .for giving guarantees by the Board of Trade in connection with purchases of United Kingdom goods by Rumania.

The protocol to the agreement regarding trade payments provides for the purchase in the United Kingdom of cotton yarns, and woollen and worsted yarns and carded wool to the value of £750,000.

Tlii? agreement amends the existing payments agreements in various ways intended to facilitate trade and payments between Rumania and Britain, such as a more rapid repayment of outstanding trade debts etc. It also provides for the establishment of a consultative committee, whose function will be lo consider, from time to time, any difficulties that may arise.

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