7 December 1960 The Russians know that British business men are anxious to grasp the opportunities offered to them

Anyone who is concerned, as I am, with the development of Britain’s export trade must be struck at once by the contrast between the size, strength, and rapid development of the Soviet economy on the one hand, and by the relatively small flow of trade between Russia and the United Kingdom on the other. The United Kingdom sells barely 1 per cent of its exports to the Soviet Union, and we buy less than 2 per cent of our imports from them. Must this contrast continue? Is there not a valuable untapped market here for British goods which our firms can develop?

Of course no one thinks that the Soviet Union will wish to abandon its now traditional aim of building up home production of many things which might be obtained elsewhere,…

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