§ 10. Mr. Luceasked the Secretary of State for Foreign and Commonwealth Affairs if he will report progress on the negotiations between Her Majesty's Government and the Sudan Government regarding the valuation of the assets of British companies nationalised in 1970.
§ Mr. KershawNegotiations have been taking place between the companies and the Sudan Government. Her Majesty's Government are not directly involved but we have consistently made it clear to the Sudan Government that we attach great importance to a settlement. I myself raised this during my recent visit to the Sudan. Talks held recently have resulted in a substantial measure of agreement on the valuation of assets. We expect further negotiations to be held shortly on the means of paying compensation.
§ Mr. LuceI am glad to hear of this progress. I warmly welcome the visit of President Nimeri, but will my hon. Friend impress upon him the need for firm agreement not only on the valuation of these assets but also on the need for prompt payment of compensation? Does my hon. Friend agree that the sooner this agreement is reached the sooner can British industry be encouraged to respond to the need for and potential of renewed private investment in the Sudan?
§ Mr. KershawI agree with my hon. Friend. Like him, we very much welcome the visit which President Nimeri is about to pay. We recognise that the Sudan Government are genuinely anxious to resolve this problem in a way which is satisfactory to all parties. Their difficulty is a shortage of foreign exchange.