HC Deb 19 December 1952 vol 509 cc296-7W
Mr. Hale

asked the President of the Board of Trade whether he is now in a position to make a statement as to the possibility of reopening and increasing East-West trade; and what is the policy in relation thereto of the Export Credits Guarantee Corporation.

Mr. Mackeson

As my right hon. Friend the President of the Board of Trade has repeatedly stated, Her Majesty's Government would welcome any increase in trade with Eastern Europe in non-strategic commodities. Our approaches to Russia and the other Soviet bloc countries about the goods which we are ready and anxious to sell have not, however, met with any success. As regards the second part of the Question, the Export Credits Guarantee Department, with Treasury approval under Section 2 of the Export Guarantees Act, 1949, afford cover to exports against confirmed irrevocable letters of credit opened before shipment. or. in certain cases, short term credit.