Anglo-Soviet Agreement

HC Deb 10 July 1978 vol 953 cc406-7W

Mr. Banks

asked the Secretary of State for Trade if he will publish the terms of interest and repayments of individual loans granted for purchases of United Kingdom equipment by Union of Soviet Socialist Republics trading organisations under the Anglo-Soviet agreement.

Mr. Dell

Interest rates and repayment terms of individual loans are confidential to those who have commercial interests in the transactions concerned and it is not the practice to disclose them publicly, nor would it be in our interest to do so.

Mr. Banks

asked the Secretary of State for Trade if he will publish details of credit facilities, similar to the Anglo-Soviet agreement, which are available to other countries.

Mr. Dell

The pattern of the Anglo-Soviet agreement was set by our competitors and similar agreements have not been entered into with other countries. Less detailed arrangements exist with a few countries the provisions of which are considered confidential to those who are commercially involved.