HC Deb 07 July 1978 vol 953 cc326-7W
Mr. Neubert

asked the Secretary of State for Trade what is the volume and value in the last four years of Romanian imports into the United Kingdom of textiles, clothing, glass and steel, respectively.

Mr. Meacher

Following is the information for United Kingdom imports consigned from Romania:

Mr. Dell

The expression "barter" is normally used to describe deals in which goods are traded in exchange for other goods and no money passes. Such evidence as is available to me suggests that trade of this kind between United Kingdom companies and State trading countries has been declining for many years.

There are more complex deals which, in effect, involve the exchange of goods against other goods in whole or in part. These deals are usually known as counter-purchase or compensation trading. There are indications that deals of this kind between United Kingdom companies and State trading countries have probably grown in number during the past two years. I cannot, however, quantify this since I have no information on individual deals or their terms, which would be commercially confidential to the companies concerned, whether in the private or the public sector.

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