§ Mrs. MacDonaldasked the Secretary of State for Trade and Industry if he will make a statement on the visit to Japan of the mission from his Department to persuade Japanese businesses to invest money in the exploration and exploitation of the oilfields off the shores of Scotland and other industries, in particular on the terms that were being proposed.
§ Mr. Anthony GrantThe purpose of the mission was to continue the discussions about economic co-operation which took place during the visit of the Japanese Prime Minister to London in October. The principal subjects reviewed were the opportunities for British investment in Japan and for Japanese manufacturing investment in the United Kingdom, particularly in the assisted areas, and the scope for joint ventures in third countries. The Japanese expressed interest in acquiring shares in licences for North Sea exploration. The mission noted their 101W interest but explained that no decision has yet been taken about another round of licensing.