asked the Minister for Agriculture his views on contra-trading involving beef for oil trading with relevant third countries, and if he will make a statement on the matter.
Written Answers. - Counter Trading Arrangements.
299.
While the commercial terms under which trade is carried on are normally a matter for the various companies and individuals directly involved, any general move towards counter trading is not a desirable development, particularly in the overall circumstances of this country's external trade. Certain oil producing countries which operate a State trading system may, however, seek to arrange that we should purchase their oil in return for their purchasing Irish beef. Any approach of this nature would have to be considered on its merits bearing in mind the need to ensure that any counter trading arrangement would have a sound commercial basis and would not involve any loss to the Exchequer.