§ 7.43 p.m.
§ The Financial Secretary to the Treasury (Captain Crookshank)
I beg to move,That the Clearing Office (Rumania) Amendment Order, 1940, dated 15th June, 1940, a copy of which was presented to this House on 19th June, be approved.Up till now the clearing office arrangements with Rumania have been governed by the Anglo-Rumanian Trade Agreement of 12th July, 1939. That has not proved entirely suitable under conditions of war, and an agreement has therefore been made to terminate that agreement as from 17th June. The effect of this Order is to wind up the Anglo-Rumanian Clearing Office. Under its provisions it will be self-liquidated as all the debts incurred during its currency are collected. There is provision for that in the agreement. The 528 result is that trade will be along the normal lines, and it should enable, if we were living in normal times, trade to pass satisfactorily between this country and Rumania. We hope that, in spite of the abnormality of the times, trade will continue as far as is possible in the circumstances of to-day.
§ Question put, and agreed to.