The wide-spread and fundamental modifications in the movement of international trade caused by the Anglo-Franco-German war necessarily affect Italy's commercial relations with foreign markets and call for frequent revision of reciprocal trade positions, i The frequent meetings held by the joint committees set up under recent agreements for discussing trade relations with the representatives of foreign countries, allow of prompt and effective action. In some cases—as in those of Uruguay and Brazil—special agreements have been made for exports to replace supplies which used to come from other countries, in exchange for which Italy is, receiving raw materials she needs. With Mexico the exchange of Italian rayon and other manufactures against crude oil is proceeding regularly under the terms of the existing agreement, Trade with Chili is growing, exports to that country rising from 5.3 million gold pesos in 1936 to 13.3 million in 1938.
Bari, Naples and Messina are studying problems connected with their fruit, citrus and vegetable exports, while at Genoa and Trieste transit trade and re-exports call for consideration, Among the products of Italian industry for which new markets are being studied are those of the textile, chemical, and pharmaceutical trades.
Sulphur is another product for which demand is increasing.
Trade Agreement On October 24, the meetings of the joint Italo-Yugoslav commercial committee concluded in Belgrade with the signature of a protocol by which the exchanges between the two countries for the next twelve months are estimated at a total value of 900 million lira as against the 250 million lira provided for in September 1936, The agreement provides for heavier Italian imports of lumber, cereals and cattle, while Yugoslavia expects to purchase larger supplies of Italian yarns and rice, and, generally speaking, looks to Italy for meeting many of her needs for finished products.
The trade account between the two countries shows a credit held by Italy for 130 million dinars which will be settled within the current year by increasing Italian purchases of lumber by 45 million dinars, of cereals by 40 million, and of cattle by 9-10 million dinars per month. Under the new arrangement the trade between the two countries is so balanced as to avoid in future the accumulation of unsettled accounts.
Text read from the printed page and cleaned; old type leaves the occasional error.