§ 45 and 46. Mr. Wallasked the Secretary of State for Foreign Affairs (1) if he will make a statement giving the details of the trade agreement recently reached with the United Arab Republic;
(2) what special export credit guarantee arrangements have been made effecting trade with the United Arab Republic; 329W and what arrangements have been reached regarding Egyptian debts and the desequestration of British property still held by the Government of the United Arab Republic.
§ Mr. George ThomsonNo trade agreement with the United Arab Republic has been concluded. On 10th February the Export Credits Guarantee Department concluded an agreement with representatives of the Central Bank of Egypt about the payment over a period of United Arab Republic commercial debts to this country insured with the Export Credits Guarantee Department. The agreement provides for current payments to be met as they fall due and is expected to enable the Export Credits Guarantee Department to continue to underwrite an appropriate amount of new business. Before this agreement was concluded, the United Arab Republic authorities in Cairo gave Her Majesty's Government an assurance that negotiations currently being pursued in Cairo on various property matters, including that to which the hon. Gentleman refers, would be concluded without delay as soon as the remaining details had been settled.