§ Mr. Oakesasked the President of the Board of Trade what is the adverse balance of trade between Great Britain and Venezuela during 1967 to date; and what steps he is taking to increase Great Britain's exports to Venezuela.
§ Mr. DarlingNo close estimate is possible. The value of imports from and of exports and re-exports to Venezuela in January to March, 1967 is shown on page 287 of the Overseas Trade Accounts for March. The difference between the two is not, however, a close measure of the balance of payments in respect of our visible trade with Venezuela, because78W imports are valued to include insurance and freight charges which will often be paid to British residents and because the country from or to which imports or exports are consigned may differ from the country to or from which payment is made, or liabilities arise. All the usual export services are available from my Department. My hon. Friend when Minister of State, Board of Trade, visited Venezuela last September on a trade promotion tour and an Economic Mission from Venezuela is expected to visit Britain shortly as guests of Her Majesty's Government.