HC Deb 25 July 1960 vol 627 c1073

During his visit to the United Kingdom from 4th July to 7th July, President Frondizi had conversations with the Prime Minister on two occasions. On 5th July, he was accompanied by Dr. Taboada, the Foreign Minister of the Argentine, and the Foreign Secretary was also present. On 6th July. President Frondizi and the Prime Minister had a meeting alone.

During their conversations, the Prime Minister and President Frondizi discussed many aspects of the international situation and agreed that the United Kingdom and Argentina had a common interest in the preservation of peace, democracy and justice, and in the promotion of economic progress.

It was recognised that Argentina had already made great progress towards the recovery of her economic prosperity. The Argentine President emphasised that, in order to complete her development programmes, Argentina needed medium and long-term credits and investments front overseas to supplement her own efforts to promote her economic expansion. The Prime Minister referred to the assistance already extended by Her Majesty's Government and by private financial groups to Argentina. and explained to the President that, in considering the extent of further assistance of this kind, account had to be taken of the United Kingdom's commitments in the Commonwealth.

The President and the Prime Minister agreed on the desirability of improving economic cooperation between the industrialised nations of the Western World and Latin America. The Prime Minister assured the President that the policies of E.F.T.A. would not hamper the development of economic co-operation between Latin America and Western Europe. The President said that the Latin American Free Trade Zone would serve to promote closer economic relations between the two areas.

The question was discussed how Anglo Argentine trade could be further expanded and British enterprise encouraged to play a greater part in the development of Argentina's industries and natural resources.

The President and the Prime Minister observed with satisfaction the excellent relations between Argentine and the U.K. and agreed that these could be further intensified by ever closer contacts of all kinds.