General Agreement on Tariffs and Trade

HC Deb 18 June 1973 vol 858 cc10-2W

Mr. Skeet

asked the Secretary of State for Trade and Industry (1) if he will use his best endeavours to ensure that any effect on the trading interests of the United Kingdom's partners in the Commonwealth, particularly New Zealand, Australia and Canada, is minimised in the projected GATT negotiations due to be initiated in September;

(2) if he will take steps to safeguard the legitimate trading interests of Canada in agricultural products in the interests of both the United Kingdom and Canada in the coming GATT negotiations.

Sir G. Howe

The forthcoming GATT negotiations will be multilateral with participation open to GATT member

							United Kingdom	Federal Republic of Germany
							Number	£'000	Number	£'000
1968	…	…	…	…	…	…	1,685	1,171	6,596	4,715
1969	…	…	…	…	…	…	1,721	1,262	8,964	6,311
1970	…	…	…	…	…	…	1,776	1,465	9,560	8,074
1971	…	…	…	…	…	…	1,561	1,476	10,848	8,678
1972	…	…	…	…	…	…	1,344	1,527	16,738	15,859

Mr. Skeet

asked the Secretary of State for Trade and Industry if he will give the total of British investment in Japan in each of the past five years.

Sir G. Howe

The amounts of private direct British investment in Japan, excluding oil, during each of the last five years for which statistics have been compiled were as follows:

	£ million
1967	2.1
1968	1.2
1969	1.5
1970	3.0
1971	9.0

The book values of these investments, excluding oil, banking and insurance, at the end of 1968 amounted to £11 million, and by the end of 1971 was probably about £25 million.

Mr. Skeet

asked the Secretary of State for Trade and Industry what is the total of Japanese investment in the United Kingdom and the percentage thereof attributable to Japanese banks operating either alone or in consortia.

Sir G. Howe

The only information I have relates to the book value of countries and to any developing country. All Commonwealth countries, including New Zealand, Australia and Canada, will thus be able to take part in these negotiations which I fully expect to be held on the basis of mutual advantage and to benefit the trade of all countries taking part.