TRADE WITH RUSSIA

Gisborne Times, Volume LXX, Issue 11125, 7 February 1930, Page 5

TRADE WITH RUSSIA

BRITAIN AVANTS KBESU

MARKETS

WILL ASSI ST UN EM FLOVAIEXT

PROBLEM

COAIM LUC LA L AGREEMENT AVITH SOVIET DESIRED.

(British Official AVireloss.) (Received Feb. 6, 3.3 p.m.) lUJGUY. Leb. 3

Aliss AATTkinson, Laborite, initialed a debate on trade with Russia. She moved: ‘‘That, in view ot tlio grave state of unemployment in tins country, particularly in heavy industries, and the imperative need lor new markets lor British goods, the Government should energetically explore every avenue which would lead to increased trade with Russia, and that, in order to put this trade on a stable basis, a commercial agreement (should be arranged between the two countries.” Air Gillctt, Secretary for the Overseas Trade Department, replying to the discussion, said his department had "done what way often done by go-ahead business firms. It had sent out representatives to investigate the position in Russia. The Government were doing everything possible to increase trade with Russia if Russia desired to raise credit in this country. The settlement of various debt questions was a fundamental necessity if any large amount of money was going to he secured in this" country. AVhen one looked at the position of the London money market to-day, based on the recent financial crisis, and the effect of the great slump iu the United Stales, one knew perfectly well that for any country jat present there were special difficulties in uaising loans on the London money market. The ■'Government had to hear this matter in mind, and it whs impossible to expect that to any great extent they could be responsible for finding credit for any other Government under present conditions. There was" evidence that a large proportion of tho business done with Russia would not have been undertaken without the assistance of the exports credit system. The action of the Labor Government in opening negotiations with (Russia had already resulted to a small extent in an increased export trade, and what was eunally. or more important. was a better feeling existed between the two nations, which was likely to lead to better results in fuure. The Government hoped, veiw shortly, that a commercial agreement would be entered into between the two countries. The motion was agreed to.