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United States Department of State / Foreign relations of the United States diplomatic papers, 1934. The American Republics

Colombia,   pp. 66-85 PDF (7.2 MB)

Page 72

  Mr. Sayre then called attention to the fact that this Government
is offering additional concessions on three products of Colombia in-
volving a 50%o reduction in existing duties, these additional conces-
sions being made possible by the fact that the Trade Agreements Act
has provided the authorization necessary therefor. He stated that we
would appreciate such consideration as Colombia on its part might
give to the granting of additional concessions on American products.
Mr. Gonzalez expressed his gratification regarding the proposed addi-
tional concessions by the United States. He seemed to feel that there
is a possibility of reciprocal action by Colombia, especially since duty
reductions are already under consideration in Colombia. He pointed
out, however, that the executive branch of the Colombian Government,
unlike that of the United States, must submit the agreement to the
legislature and this tends to make additional concessions by Colombia
more difficult.
  Mr. Sayre then called attention to the proposal of this Government,
that an exchange of notes be entered into concurrently with the pro-
posed trade agreement, in regard to foreign exchange control. Mr.
Gonzalez stated that the foreign exchange control problem is being
cleared up. He said that as regards current business, American in-
terests have no difficulty in getting exchange. With reference to
blocked commercial credits, he stated that 40%o of the credits blocked
as of September, 1931, have been liquidated and referred to the an-
nouncement of the Colombian Government, following the inquiry by
our Legation at Bogotat, to the effect that the remaining 60% of the
blocked credits will be cleared up in three monthly installments, end-
ing February 15, 1935. While he could not speak officially, Mr.
Gonza'lez stated that there is a definite trend toward the complete
removal of foreign exchange control.
       The Department of State to the Colombian Embassy"
  The memorandum of the Department of State dated August 28,
1934,12 indicated that the Government of the United States desired to
conclude a new trade agreement with the Republic of Colombia, under
the authority of the Trade Agreements Act approved by the Presi-
dent on June 12, 1934, to replace the Agreement signed December 15,
1933. It was explained in the memorandum under reference that the
21 Handed to the Colombian Charge on December 10, 1934, by Francis B. Sayre,
Assistant Secretary of State.
I Memorandum missing from Department files.

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