§ 1. Mr. George Craddockasked the President of the Board of Trade when he intends to resume the trade discussions with Rumania, having regard to the possibilities of obtaining dollar-saving commodities from this source.
§ The President of the Board of Trade (Sir David Eccles)I have nothing to add to my predecessor's Answer to the hon. Member for Morpeth (Mr. Owen) on 4th December last.
§ Mr. CraddockIs the Minister aware that Rumania has agreements with 62 countries but not with Britain, that at the moment trade between Rumania and West Germany is running at £21 million a year, and that a recent delegation appointed from West Germany to go to Bucharest will substantially increase this amount? Surely the commodities which Rumania has to trade, such as fodder, grain, petroleum products, timber, oil seed and newsprint, are important products to this country? Will the Minister please make it his business to see whether we cannot at long last get a satisfactory trading agreement with Rumania?
§ Sir D. EcclesI am aware that Rumania has trading agreements with many other countries, but she has very large debts with this country and we expect her to make some gesture on those debts.
§ Mr. CraddockIs the Minister aware of the agreement which France has entered into with Rumania for the allocation of 6 per cent. of the value of the trade done annually to a special fund until the necessary figure is reached to liquidate the debts between the two countries?
§ Sir D. EcclesYes, Sir.