Part of Oral Answers to Questions — Trade and Commerce – in the House of Commons at 12:00 am on 23 February 1954.
Mr Derick Heathcoat-Amory
, Tiverton
12:00,
23 February 1954
No, Sir. The Argentine decree of June, 1952, under which goods could not be cleared through the Customs unless they were covered by a letter of credit was cancelled in September, 1953, with effect from 1st September, 1952. This requirement was exceptional and licences issued against the £3 million list agreed in April, 1953, will have guaranteed the provision of the necessary foreign exchange. It is not possible to identify the specific orders which have resulted from the trade agreement.