§ 45. Sir C. Osborneasked the President of the Board of Trade if he is aware that for the first eight months in 1965 imports from the Union of Soviet Socialist Republics were £70,723,000, and exports only £28,972,000, resulting in the worst adverse trade balance for years; to what extent this is due to British exporters, or to the restrictions imposed by the Soviet Government; what action he is taking to close this trade gap; how soon he expects it to be closed; and if he will make a statement.
§ The President of the Board of Trade (Mr. Douglas Jay)Yes, Sir. I am most concerned at the continued failure of the Soviet authorities adequately to implement the undertaking given to the right hon. Member for Bexley (Mr. Heath) in April, 1964, in spite of the energetic efforts of British exporters.
In September my hon. Friend the Member for Walthamstow, West (Mr. Redhead), as Minister of State, Board of Trade, again pressed the Acting Minister of Foreign Trade in Moscow to fulfil Mr. Patolichev's promise that the Soviet 1223 Union would continue to take the necessary measures to achieve a much closer balance in the trade between our two countries. I shall watch the situation carefully with a view to seeing how this growing imbalance can be put right.
§ Sir C. OsborneIn view of these alarming figures and our perfect right to say to the Soviet Union, "Why do you not buy more of our goods in view of what we are buying from you?", it is no good just being anxious. May I ask what the right hon. Gentleman intends to do about it? Cannot he put more pressure on the Soviet Union to fulfil their promise?
§ Mr. JayThe Soviet Union's purchases from this country have risen in the present year, but I agree with the hon. Member that they have not risen sufficiently to close the gap, and we are therefore considering what action we shall take.