§ Mr. CHORLTONasked the President of the Board of Trade when the Rumanian Government, under the present clearing agreement, will release for discharge in full the obligations to exporters from this country; and whether he is aware that these obligations are in some cases due on account of exports of semi-raw materials purchased so long ago as the first quarter of 1934?
§ Mr. RUNCIMANThe Anglo-Rumanian Payments Agreements provide facilities for the payment of outstanding trade debts to the extent of not less than £400,000 during the year ending 9th June, 1937, and in addition for a further sum of approximately £300,000 to be used for that purpose. The amounts to be settled in subsequent years are to be fixed by a further agreement. The facilities available for the settlement of these debts include the purchase of sterling derived from Rumanian compensation trade exports to the United Kingdom and to other countries, and investment in Rumania. I regret that it is not possible to give an estimate of the time that may elapse before the outstanding trade debts will be settled in full. The answer to the second part of the question is in the affirmative.