§ 69. Mr. Peter Smithers
asked the President of the Board of Trade whether he will make a statement with regard to the recent financial and trade negotiations between His Majesty's Government and the Mexican Government.
§ Mr. Bottomley
His Majesty's Government were very glad to welcome to this country a Mexican Economic Mission led by Senor Carlos Novoa, the President of the Bank of Mexico. In addition to the most useful discussions which took place between members of the Mission and United Kingdom officials, Senor Novoa bad conversations with the Chancellor of the Exchequer and other Ministers, including my right hon. Friend. The diffi- 1154 culties facing Mexico by reason of the failure of this year's sugar crop were sympathetically considered, and His Majesty's Government have been able to agree a programme of imports for the next twelve months, amounting to a total of some £4 million, most of which will consist of raw cotton, if agreement can be reached on price and quality. If United Kingdom exports to Mexico show an expansion we shall be ready to consider what more we can do. For their part the Mexican Government have declared their readiness to use their good offices to facilitate the importation of United Kingdom goods.
§ Mr. Smithers
Is the hon. Gentian-tan aware that, although this is only e relatively small amount of increase in trade, it is particularly welcome as a first constructive step towards better political relations between our countries, and will he bear in mind that next year it would be most desirable if we could add a financial agreement to the commercial agreement?