§ 7. Sir NICHOLAS GRATTAN-DOYLEasked the President of the Board of Trade whether, in order that British subjects may receive in sterling a return on their various investments in Argentina, he will include in the terms of renewal of the Roca agreement a provision for exchange clearing based upon the annual British purchases from Argentina exceeding the purchases by Argentina of United Kingdom products by over £20,000,000?
§ Mr. RUNCIMANThe point to which my hon. Friend refers will certainly be borne in mind in any negotiations as to the revision of the agreement at present in force. Under that agreement the full amount of sterling exchange arising from the sale of Argentine products in the United Kingdom, after deduction of a reasonable sum towards the service of the Argentine public external debt in third countries, is made available for current remittances from Argentina to the United Kingdom.
§ 8 and 9. Mr. EVERARDasked the President of the Board of Trade (1) whether any discussions are now taking place with the Argentine Government with a view to bringing into operation at as early a date as possible the long-term policy of His Majesty's Government for our livestock industry;
(2) whether, in view of the fact that notice to terminate the trade agreement with Argentina must be given before 6th May next, notice will be given to alter or terminate the agreement; and what Amendments he proposes to safeguard the interests of the livestock industry in this country?
§ Mr. RUNCIMANI hope to meet the Argentine representatives to resume these discussions shortly. On the general question, I fear I can at present add nothing to the answers I have previously given.
§ Mr. EVERARDIs my right hon. Friend aware that there is very considerable apprehension in the livestock in- 1796 dustry because it is getting very near to May, and the Government do not seem to be giving very much of a lead in this matter?
§ Mr. RUNCIMANI am well aware that there are many interests concerned in the negotiation of this new agreement.
§ Mr. KIRKPATRICKAre not many of these questions relating to Argentina untimely—[HON. MEMBERS: "Why?"]—and not well informed, and is it not more likely to do us harm if we have these questions put before us?