Mr. Philips Price:

asked the President of the Board of Trade (1) to what extent in the recent commercial debt settlement with Turkey the Turkish Government have undertaken to calculate their exports at world or above world prices; (2) to what extent preferential treatment in the settlement of their outstanding commercial debts due to them from Turkey will be afforded to those British creditors who, under the new agreement, purchase increased quantities of Turkish produce and minerals in the next five years.

The Agreement provides that the Turkish Government will take all possible steps to encourage the flow of Turkish exports to the United Kingdom at world prices. Creditors who have promoted substantial exports of certain specified Turkish products to the United Kingdom may be paid by the Turkish Central Bank without regard to chronological order; I cannot say how far this provision will be applied.