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R RICTED
TRADE AGREEMENTS
As to water transportation, the agreement provides for
mated at $2,970,000, of which 50 percent ($1,485,000) is
the following (1) the establishment of a Soviet-Rumanian
contributed by two Soviet lumber pools and the remaining
navigation company, Sovromtransport; (2) for the ad-
50 percent by Rumanian public and private lumber
ministration and development of river and maritime ship-
corporations.
ping; and (3) for the use of Rumania's leading ports of
Finally, the creation of a joint enterprise in banking,
Constanta, Galati, Braila, and Giurgiu. The Soviet State
Sovrombanc, is authorized by the agreement. Article III
shipping and insurance organization is granted the right
of the Convention establishing Sovrombanc states : "The
to open branches and agencies in Rumania.
essential activity of the Soviet-Rumanian Bank will be
The Official Gazette of Rumania published a decree law
directed especially to financing commercial opera-
on 3 May 1946 concerning the exemption from import taxes
tions between the Union of Soviet Socialist Republics and
of certain assets brought by the Soviet group into Sovrom-
Rumania, and of operations to be transacted by companies
transport. The commodities enjoying this exemption (to
constituted in Rumania for the purpose of executing the
the total value of the capital contribution of the Soviet
Economic Convention of Collaboration between the Union
group of $10,950,000) are as follows: river vessels and
of Soviet Socialist Republics and the Kingdom of Rumania
sea-going craft of various categories; engines and boilers
signed in Moscow on 8 May 1945. The Soviet-Rumanian
for vessels; all types of supplies required for the con-
Bank will transact all customary banking operations."
struction and repair of vessels; supplies and deck equip-
Total capitalization of Sovrombanc is $8,760,00; and the
ment; all kinds of nautical apparatus; machinery and
Soviet subscription is $4,380,000.
tools for the equipment and operation of shipyards, for
harbor installations, railways, etc.; conveying devices
Hungary
(cranes, etc.) ; office stationery and technical literature.
The law provides that, in case the materials imported are
The Hungarian-Soviet economic, collaboration agree-
sold, then the import taxes will have to be paid, although
ment was signed on 27 August 1945 and was ratified in
consideration will be given to the condition of the equip-
Budapest in January 1946. Its implementation, how-
ment in question at the time of the sale.
ever, has not progressed so far as that of the Soviet-
Under that part of the agreement affecting air transport,
Rumanian agreement. The Hungarian agreement pro-
the Soviet-Rumanian Joint Aviation Company, Tars, is to
vides for equal Soviet-Hungarian participation in existing
receive airplanes and other equipment from the U.S.S. R.,
or newly created enterprises within most of the major
while Rumania gives the airports, their existing equip-
Hungarian industries, including the iron and steel, alumi-
ment, and the sites for the construction of new airports.
num, petroleum, electric power, chemical, and machine
Soviet capital participation is $6,570,000. The company
industries. Other fields covered are banking, and air,
has the right to initiate airlines in Rumania and to partic-
motor, and river transport. The agreement calls for the
ipate in international airlines across Rumania. On
8
participation of Soviet technical skill and capital in the
January 1946, a decree law, published in the Official
mechanization of Hungarian agriculture and in agricul-
Gazette and signed by the Council of Ministers, provides
tural and industrial research.
for the liquidation of the Rumanian Airlines (Lares) and
Four Soviet committees visited Budapest in 1946, to
for the transfer of its assets and properties to Tars. The
arrange for the establishment of Soviet-Hungarian corpo-
Lares properties, by the decree, constitute a part of the
rations on a partnership basis (joint-stock companies) in
contribution of the Rumanian State to the joint company;
the oil and bauxite industries, and in the fields of Danube
thus, all air facilities are now included in the assets of the
shipping and air transport.
joint company.
In the Soviet-Hungarian Oil Company, according to
The agreement further provides for collaboration in:
some information, the assets of the Vacuum, Fanto, and
(1) creating foodstuffs industries (tinning of vegetables
Shell Oil companies are to form the Hungarian share of
and fruit, etc.) ; development of the windowpane and glass
70 percent, while the Totkomlos oil field and a large
products industry; and agricultural development (setting
auto repair shop are to constitute the Soviet share. The
up of a Soviet-Rumanian Research Institute, exchange of
question arises here as to the policy regarding United
experts, and provision by the Soviets of agricultural
States and British assets in the oil industry of Hungary,
equipment for the establishment of mechanized cultivation
which seems to have been taken over summarily without
centers)
due compensation, and to have been placed at the disposal
Under the agreement, the Soviets obtain participation in
of the Soviets.
the lumber industry of Rumania. A decree law was pub-
The Hungarian and Soviet Governments, on a basis of
lished in the Official Gazette on 1 May 1946 regarding the
parity, are founding a Soviet-Hungarian Bauxite-Alumi-
establishment of the Soviet-Rumanian lumber company,
num Company for: (1) the prospecting for, and mining
Sovromlemn. The total value of its capital assets is esti-
of, bauxite; (2) the production of alumina and aluminum;
RESTRICTID
33
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"ocrText": "R RICTED\nTRADE AGREEMENTS\nAs to water transportation, the agreement provides for\nmated at $2,970,000, of which 50 percent ($1,485,000) is\nthe following (1) the establishment of a Soviet-Rumanian\ncontributed by two Soviet lumber pools and the remaining\nnavigation company, Sovromtransport; (2) for the ad-\n50 percent by Rumanian public and private lumber\nministration and development of river and maritime ship-\ncorporations.\nping; and (3) for the use of Rumania's leading ports of\nFinally, the creation of a joint enterprise in banking,\nConstanta, Galati, Braila, and Giurgiu. The Soviet State\nSovrombanc, is authorized by the agreement. Article III\nshipping and insurance organization is granted the right\nof the Convention establishing Sovrombanc states : \"The\nto open branches and agencies in Rumania.\nessential activity of the Soviet-Rumanian Bank will be\nThe Official Gazette of Rumania published a decree law\ndirected especially to financing commercial opera-\non 3 May 1946 concerning the exemption from import taxes\ntions between the Union of Soviet Socialist Republics and\nof certain assets brought by the Soviet group into Sovrom-\nRumania, and of operations to be transacted by companies\ntransport. The commodities enjoying this exemption (to\nconstituted in Rumania for the purpose of executing the\nthe total value of the capital contribution of the Soviet\nEconomic Convention of Collaboration between the Union\ngroup of $10,950,000) are as follows: river vessels and\nof Soviet Socialist Republics and the Kingdom of Rumania\nsea-going craft of various categories; engines and boilers\nsigned in Moscow on 8 May 1945. The Soviet-Rumanian\nfor vessels; all types of supplies required for the con-\nBank will transact all customary banking operations.\"\nstruction and repair of vessels; supplies and deck equip-\nTotal capitalization of Sovrombanc is $8,760,00; and the\nment; all kinds of nautical apparatus; machinery and\nSoviet subscription is $4,380,000.\ntools for the equipment and operation of shipyards, for\nharbor installations, railways, etc.; conveying devices\nHungary\n(cranes, etc.) ; office stationery and technical literature.\nThe law provides that, in case the materials imported are\nThe Hungarian-Soviet economic, collaboration agree-\nsold, then the import taxes will have to be paid, although\nment was signed on 27 August 1945 and was ratified in\nconsideration will be given to the condition of the equip-\nBudapest in January 1946. Its implementation, how-\nment in question at the time of the sale.\never, has not progressed so far as that of the Soviet-\nUnder that part of the agreement affecting air transport,\nRumanian agreement. The Hungarian agreement pro-\nthe Soviet-Rumanian Joint Aviation Company, Tars, is to\nvides for equal Soviet-Hungarian participation in existing\nreceive airplanes and other equipment from the U.S.S. R.,\nor newly created enterprises within most of the major\nwhile Rumania gives the airports, their existing equip-\nHungarian industries, including the iron and steel, alumi-\nment, and the sites for the construction of new airports.\nnum, petroleum, electric power, chemical, and machine\nSoviet capital participation is $6,570,000. The company\nindustries. Other fields covered are banking, and air,\nhas the right to initiate airlines in Rumania and to partic-\nmotor, and river transport. The agreement calls for the\nipate in international airlines across Rumania. On\n8\nparticipation of Soviet technical skill and capital in the\nJanuary 1946, a decree law, published in the Official\nmechanization of Hungarian agriculture and in agricul-\nGazette and signed by the Council of Ministers, provides\ntural and industrial research.\nfor the liquidation of the Rumanian Airlines (Lares) and\nFour Soviet committees visited Budapest in 1946, to\nfor the transfer of its assets and properties to Tars. The\narrange for the establishment of Soviet-Hungarian corpo-\nLares properties, by the decree, constitute a part of the\nrations on a partnership basis (joint-stock companies) in\ncontribution of the Rumanian State to the joint company;\nthe oil and bauxite industries, and in the fields of Danube\nthus, all air facilities are now included in the assets of the\nshipping and air transport.\njoint company.\nIn the Soviet-Hungarian Oil Company, according to\nThe agreement further provides for collaboration in:\nsome information, the assets of the Vacuum, Fanto, and\n(1) creating foodstuffs industries (tinning of vegetables\nShell Oil companies are to form the Hungarian share of\nand fruit, etc.) ; development of the windowpane and glass\n70 percent, while the Totkomlos oil field and a large\nproducts industry; and agricultural development (setting\nauto repair shop are to constitute the Soviet share. The\nup of a Soviet-Rumanian Research Institute, exchange of\nquestion arises here as to the policy regarding United\nexperts, and provision by the Soviets of agricultural\nStates and British assets in the oil industry of Hungary,\nequipment for the establishment of mechanized cultivation\nwhich seems to have been taken over summarily without\ncenters)\ndue compensation, and to have been placed at the disposal\nUnder the agreement, the Soviets obtain participation in\nof the Soviets.\nthe lumber industry of Rumania. A decree law was pub-\nThe Hungarian and Soviet Governments, on a basis of\nlished in the Official Gazette on 1 May 1946 regarding the\nparity, are founding a Soviet-Hungarian Bauxite-Alumi-\nestablishment of the Soviet-Rumanian lumber company,\nnum Company for: (1) the prospecting for, and mining\nSovromlemn. The total value of its capital assets is esti-\nof, bauxite; (2) the production of alumina and aluminum;\nRESTRICTID\n33"
}