§ 54. Mr. CHANNONasked the President, of the Board of Trade whether he can make any statement as to the result of the recent negotiations with the Government of Yugoslavia on the subject of trade between the two countries?
§ Captain WALLACEI am glad to be able to inform the House that a Commercial Agreement with Yugoslavia was signed on 27th November and will be published as soon as possible. Its chief provision is for the issue of sufficient licences for the import into Yugoslavia of United Kingdom goods which are subject to import restrictions and the imports of which have declined seriously in recent months. 836 There will be an issue of licences in respect of December which is at double the rate of recent issues, and provision has been made for regular issues thereafter. The total value of the licences so to be issued will depend on the total value of exports from Yugoslavia to the United Kingdom. I have every reason to hope that the Agreement will result in an immediate increase in United Kingdom exports to Yugoslavia, and will re-establish the commercial relations between the two countries on a satisfactory basis.
§ Mr. LEACHAre we to take it that this agreement does not contain, any tax upon imported food for a change?
§ Captain WALLACEThe hon. Member had better wait and see.