§ 37. Mr. ALEXANDER RAMSAYasked the Secretary to the Overseas Trade Department if he can state the present position of negotiations between this country and the representatives of Soviet Russia on the question of credit guarantees for export trade?
40. Captain TODDasked the Secretary to the Overseas Trade Department whether the advisory committee to the Department is authorised by him to conclude an agreement in regard to the terms for export credits to Russia, or whether the terms in detail are subject to the approval of the Department?
§ Mr. COLVILLEThe Export Credits Guarantee Advisory Committee are authorised to negotiate with the Russian representative within certain limits and these discussions are still in progress. The Department are required by statute to consult the advisory committee, and in practice they give guarantees only on such terms as the committee may recommend in each case.
§ Mr. RAMSAYWill my hon. Friend bear in mind that these negotiations have been proceeding for four or five months, and will he endeavour to bring them to an issue so that the exporters may know exactly where they stand in regard to Russia?
§ Mr. COLVILLEYes. I hope that it will be brought to an issue very shortly.
Captain TODDCan the hon. Gentleman give us some idea of the limits of the powers given to the Advisory Committee?
§ Mr. COLVILLEAt this stage I cannot make such a statement, but I hope the matter will be brought to an issue very shortly.
§ Mr. KIRKWOODCan the hon. Gentleman tell the House what length of credit the Government are prepared to give to Russia?
§ Mr. COLVILLEI must refer the hon. Member to my previous answer. I cannot make any further statement yet.
Duchess of ATHOLLAre we to understand that all the power to negotiate rests with the Department and not with the Advisory Committee?
§ Mr. COLVILLEWithin certain limits the committee are entitled to negotiate.