§ Mrs. GormanTo ask the Secretary of State for Trade and Industry what is his latest assessment of the opportunities for joint trading ventures in Czechoslovakia.
§ Mr. RedwoodCzechoslovakia introduced joint venture legislation over a year ago and although it has been refining it since to make the idea more attractive to western investors, so far only one British company has entered into a full joint venture. This is in the textile sector. As for the future, I visited Czechoslovakia recently and found great commitment in the Government and among middle management towards joint ventures. Opportunities are certainly there in such areas as food processing machinery and the automotive sector, and will also grow out of the day-to-day trade relationships which we are doing our best to encourage.