EXPORT CREDITS

Wairarapa Times-Age, 13 May 1939, Page 7

EXPORT CREDITS

GRANTED BY BRITAIN TO RUMANIA NEGOTIATIONS CONCLUDED SUCCESSFULLY. MEASURES TO PROMOTE TRADE. (British Official Wireless.) RUGBY, May 11. The successful conclusion of the Anglo-Rumania trade negotiations was announced in the House of Commons today by Mr Oliver Stanley, President of the Board of Trade, who intimated that the agreement provided for £5,000.000 in export credit guarantees for guarantees for Rumania. Mr Stanley said: “The discussions, which had been taking place between the Rumanian Government and the British Commercial mission headed by Sir Frederick Leith-Ross have been successfully concluded and a protocol was signed today at Bucharest. “It provides for a number of measures to be taken for the promotion of trade between the two countries, primarily through normal commercial channels. “It envisages the formation of a trading organisation to promote AngloRumanian trade and outlines various amendments in the present payments agreement for the sr.mc purpose. It also provides for guarantee facilities to the amount of £5,000,000 to be made available to the Rumanian Government for the purchase of United Kingdom goods. “The British Government will purchase for the Government stocks 200,000 tons of Rumanian wheat from the next harvest, if it is available at world prices. “The text of the agreement will be published in both countries tomorrow. The formal instruments to give effect to these arrangements will be drawn up in London, and a Rumanian delegation will leave for London as soon as possible/ ■