§ 4.54 p.m.
§ LORD TEMPLEMOREMy Lords, I beg to move that the Special Order, as reported from the Special Orders Committee on Thursday last, be approved. This Order, which has been reported from the Special Orders Committee, brings into operation the Anglo-Rumanian Trade and Payments Agreement of the 12th July. This is a re-enactment, with some alterations, of the Agreement of the 2nd September, 1938. This last Agreement has worked very well, and since it came 492 into force there has been a considerable development of Anglo-Rumanian trade. The present Agreement, therefore, makes no change of principle in the working of the clearing; but the experience of the last nine months has shown the need for certain amendments of a technical character which will make for the smooth working of the clearing. Account also has to be taken of certain changes of circumstance which have made it desirable to alter the provisions of the clearing in some respects.
These questions were considered during negotiations which started in Bucharest, where a Protocol was signed on May 11, laying down the general lines on which the two Governments considered that Anglo-Rumanian trade could best be developed. The negotiations were continued in London, and the present Agreement is their outcome so far as the clearing is concerned. It may be hoped that its provisions will give still further help to the growth of trade between Rumania and this country. I beg to move.
§ Moved, That the Special Order, as reported from the Special Orders Committee on Thursday last, be approved.—(Lord Templemore.)
§ On Question, Motion agreed to.