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British Firms, The Argentine

Volume 483: debated on Tuesday 6 February 1951

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64.

asked the Chancellor of the Exchequer what action he has taken to ensure that British firms in the Argentine enjoy facilities for making remittances to this country.

During the negotiations in Buenos Aires in 1949, we secured certain assurances about the clearance of arrears. Moreover, the Argentine Government undertook, subject to the availability of sterling, to permit current remittances without restriction. We have spared no effort to secure the fulfilment of these undertakings, but the Argentine Government have so far failed to implement them.

When the Chancellor talks about these negotiations, is he aware that British firms have not been able to send remittances since 1949? What further action is he taking to get this particular pledge of the Argentine Government fulfilled?

I do not know what more we can do. We have pressed them continuously and engaged in discussion and, so far, have not been able to get them to fulfil the undertaking.