Japan is in the midst of @ new and tensive campaign to improve her trade relations with Latin America according to the Institute of Pacific Relations.
Since the beginning of the year, Japan already has negotiated seven trade treaties or arrangements among, the Latin American Republics, the Institute's survey revealed.
The rapidity with which she is executing her trade blitzkrieg is shown bby the manner in which one treaty quickly followed another. The frst Of the new series of treaties was with Chile in January of this year, under which Japan agreed to increase her annual nitrate purchases from. about 30.000 to 70,000 tons, and, in addition, to take copper, beans, various veget ables, dried fruits and cooking salts, Tokyo, July 7.
The United States, keeping a wary eve on the recent jump in Nether~ ids East Indies exports to Japan, has now launched a strong economic counter-offensive, the "Japan Times" stated in a commentary" on, recent trade measures adopted in Washington, The semi-oMeial newspaper claimed. the United States wishes to obtain, if at all possible, the total output. war materials from the Netherlands Enst Indies, which produce oil, gutta percha, tin, bauxite, chromium, nickel and all-important rubber.
The "Japan Times" pointed out in this connection that negotiations are under way between Japan and the NEI. authorities to work out the details of the assurance given her regarding continued, unrestricted ex-rts of vital materials to Japan, The and toys, Third Treaty Next came a treaty on February 21, 1940, with Uruguay. Under this agreement Japan wili_ import wool, Teather and some serap iron while Uruguay will take cotton textiles and rayon.
The third treaty followed quickly with Argentina on March 15. provides for a trade between the two countries of '¥.60,000,000 annually oF three times that of 1939, Japan Is to purchase wool, frozen canned meat, easeine and other pro-nets. Japan will also be granted favourable exchange rates for the exportation to Argentina of chemicals, cotton textiles, iron and steel products fand other manufactured goods.
Mexico came next on the list, when, two days later, on March '17,3 Mexican trade committee left ' for Tokyo to discuss a possible barter arrangement and Japanese invest ments in Mexican industries.
$3,000,000 Contract So far a complete treaty has not been announced, but significant, the Institute points out, is the fact' that already one Japanese firm has signed $3,000,000 contract to purchase all, Petrol and kerosene from the Mexican government. It was reported the price was made sufficiently low to compensate for freight charges and Panama Canal tols, 2
The trade agreements and negotia. tions with Colombia and Venezuela also centre on oil, this being the chief Jexport of these countries that Japan needs. Negotiations with ollier Cen tral and South American countries were also reported by the Institute.
"There are several distinctive, though related, features in the pre sent Japanese drive which were absent before Sino-Japanese hostilities began to throw the nation's economic life out of gear," the survey slated.
"For one thing the European war 1nd Washington's abrogation of the Japanese-American trade agreement ast January have emphasized 10 Japan the danger of placing {oo much dependence on the United States and the British Empire as sources of raw materials and markets for her own products. a
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