§ 54. Mr. Jegerasked the President of the Board of Trade what proposals have been made by Her Majesty's Government and the Government of the Union of Soviet Socialist Republics for expanding trade between the two countries; and in what commodities.
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§ Mr. N. MacphersonDuring his talks with the Soviet Government in June, my right hon. Friend's predecessor proposed that the total value of trade subject to quota should be doubled in 1962. It was agreed that both sides should aim at the maximum possible increase, and negotiations are expected to begin shortly. In addition, the Soviet authorities asked that facilities should be granted for the import of Soviet oil into this country and my right hon. Friend explained why this was not possible in present circumstances. They further suggested that trade as a whole could be increased if British firms concluded long-term contracts with the Soviet authorities. My right hon. Friend undertook to ascertain the views of the industries concerned on this suggestion.