§ 50. Mr. MALLALIEUasked the President of the Board of Trade whether he is aware that imports into the United Kingdom from countries with which trade 391 agreements have been concluded have been 50 per cent. more than the exports from the United Kingdom to these countries; and, seeing that the essential feature of these agreements was the regulation of the balance of payments, whether he will say what other steps he proposes to take to attain that declared purpose?
§ Lieut.-Colonel COLVILLEI am aware that our imports from the countries with which we have concluded trade agreements still exceed to a considerable extent our exports to those countries. I would, however, point out that our trade with these countries is, as a result of the agreements, developing in a very satisfactory manner in many respects and that imports from them consist to a considerable extent of raw materials and articles mainly unmanufactured. My right hon. Friend does not consider that at the present time further steps on new lines are called for in connection with the agreements.