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Roca Runciman Agreement

The Roca Runciman Pact (1933) was an Anglo-Argentine trade agreement that made broad concessions to Britain. Since 1825, Anglo-Argentine trade has been conducted on a most-favoured-nation basis, with the exception of a brief suspension during World War I (1914-1918) and an increasing number of partially successful circumvention attempts from the late 1920s on. Argentine leaders feared that the rise of British imperial preference would imply the reduction, if not the abolition, of Anglo-Argentine trade. In contrast, the British government saw it as a way to be tougher on Argentina by buying fewer Argentine agricultural products and selling more British industrial goods to help British industry emerge from the depression. The negotiations for Argentina were led by Vice-Presidents Julio A. Roca, Ángel Cárcano and Raúl Prebisch. The British were led by Walter Runciman, president of the Trade Council. Meat and foreign exchange issues were dealt with in London and Argentine customs policy in Buenos Aires. The result was deemed so unfavourable to Argentina that the pact, which some believed to be a failure, has since sparked much controversy. The De Roca Runciman Pact, also known as the Treaty of London, was an agreement between Britain and Argentina, which opened up access to the British market for Argentine ranch products in.

. As a by-product of Black Tuesday and the Wall Street crash of 1929, Britain, Argentina`s main economic partner in the 1920s and 1930s, took steps to protect the meat supply market in the Commonwealth. During the negotiations on imperial preference in Ottawa, Britain, under pressure from Australia and South Africa, decided to severely limit imports of Argentine beef. The idea was to adopt monthly reductions of 5% in the first year of the agreement. [1] The plan immediately caused an uproar in Buenos Aires and the government sent Vice President Roca and a team of negotiators to London. The Roca Runciman Treaty was a trade agreement signed on 1 May 1933 between Argentina and the United Kingdom, signed in London by the Vice President of Argentina, Julio Argentino Roca, Jr., and the Chairman of the British Trade Commission, Sir Walter Runciman. On May 1, 1933, they concluded a bilateral treaty known as the Roca Runciman Treaty. [2] The Argentine Senate ratified this agreement by Law #11 693. The contract lasted three years and was renewed in the form of the Eden Malbrán Treaty of 1936, which granted additional concessions to Britain in exchange for lower freight rates on wheat. [3] The Roca Runciman Agreement, a three-year trade pact between Argentina and Great Britain, signed in May 1933, which guaranteed Argentina a fixed share of the British meat market and abolished tariffs on Argentine cereals. In exchange, Argentina agreed to restrictions on trade and currency exchange and preserved Britain`s commercial interests in the country.

It was signed in London by Argentine Vice President Julio Roca and British Government Representative Lord Runciman. In 1936, the pact was extended for another three years. 1 Argentina has been assured of an export quota of no less than 390,000 tonnes of chilled beef, but 85% of beef exports are expected to be made through foreign meat packers. Britain “would agree to allow the participation of Argentine meat packers up to 15%.” .