HC Deb 25 February 1987 vol 111 c289W
46. Mr. Couchman

asked the Secretary of State for Trade and Industry if he will make a statement on the prospects for United Kingdom-Soviet trade.

Mr. Alan Clark

Despite the fall in oil prices in 1986 which will tend to restrict the Soviet ability to import from the West, there are good prospects for growth in United Kingdom-Soviet trade. There are many opportunities which are currently being pursued by United Kingdom exporters to provide technology and equipment to meet the Soviet priority of modernising its industry. The reform of the Soviet foreign trade structure is designed to develop Soviet exports of manufactured goods. Companies which are prepared to make a long-term commitment to the market and develop a close trading and co-operative relationship with Soviet organisations can expect to prosper there. The United Kingdom-USSR credit agreement concluded in January 1987 is designed to ensure that United Kingdom credit terms will be fully competitive and will, I believe, be of great help to British exporters.