HC Deb 14 June 1971 vol 819 c14
16. Mr. Rost

asked the Secretary of State for Trade and Industry what credit facilities are being extended by the Export Credits Guarantee Department for British exporters to Bulgaria and Romania.

Mr. Noble

The full range of E.C.G.D.'s facilities is available for both markets.

Mr. Rost

I welcome all measures that will help to improve trade between this country and the Iron Curtain countries, but would not my right hon. Friend agree that before offering fresh credit facilities to Romania and Bulgaria, in particular, and before encouraging those countries to borrow again from European capital markets, the Government should make some effort to get a settlement of previous sterling debts to British shareholders who have been kept waiting many years for their money?

Mr. Noble

I think that my hon. Friend's supplementary question raises a slightly wider issue than is dealt with in his Question but, as long as British exporters are allowed to trade with these countries, I see no reason why they should be deprived of the full insurance facilities which the Department provides.

Mr. Leadbitter

Will the Minister say to what extent, to encourage trade between East and West, his Government are prepared to take the initiative to reduce the embargo list?

Mr. Noble

That is an entirely different question.