§ Mr. George Robertsonasked the Secretary of State for Trade (1) if he will seek to persuade the EEC commission to publish full details of compensation trading deals and plant contract arrangements with COMECON nations;
(2) what discussions he has had with the EEC Commission regarding the monitoring of compensation trading deals and plant contract arrangements with COMECON nations;
(3) if he will be publishing details of compensation trade deals between COMECON countries and British companies.
§ Mr. Meacher,pursuant to his reply [Official Report, 1 February 1979; Vol. 961, c. 539], gave the following information
The United Kingdom has played a full part in discussions within the European Economic Community and elsewhere aimed at assessing the development of compensation trading deals with Eastern Europe and other parts of the world. There would, however, be very considerable difficulties in attempting to monitor such deals systematically because of the many forms they take and the fact that there is no general requirement for companies to report to the Government the export and import orders which they conclude. Moreover, even where the existence of compensation deals is known, much of the relevant information is commercially sensitive.
§ Mr. George Robertsonasked the Secretary of State for Trade if he is satisfied that the present level of compensation trade deals with COMECON nations is compatible with the objectives of the Government's industrial strategy.
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§ Mr. Meacher,pursuant to his reply [Official Report, 1 February 1979; Vol. 961, c. 539], gave the following information
It is difficult to generalise about the effects of compensation deals with the countries of Eastern Europe. Such deals frequently involve substantial exports of capital goods and services from the United Kingdom and do not necessarily increase the level of imports which would have arrived in the United Kingdom in any case. One of the objectives of the industrial strategy is on course to achieve an increase in our share of overseas markets.