Meetings have been held during the last two days between the Taoiseach accompanied by Mr. S. Lemass, Minister for Industry & Commerce, Mr. F. Aiken, Minister for Finance, Mr. P. Smith, Minister for Agriculture and Mr. J.W. Dulanty, High Commissioner for Ireland, and the Prime Minister with whom were the Secretary of State for Commonwealth Relations, the Chancellor of the Exchequer, the Minister for Economic Affairs, the President of the Board of Trade, the Minister of Food, the Minister of Agriculture and the Minister of Fuel and Power.

A full discussion took place on the results of the examination by officials of both countries of the possibility of increasing supplies from each country to the other. The Ministers agreed on various practical steps designed alike to increase the exchange of goods between the two countries and to strengthen the balance of payments position of the sterling area as a whole, including measures to effect substantial reductions in dollar requirements. These include the supply of coal from Britain in the course of 1948, the supply to Ireland in increased quantities of other industrial and agricultural requirements and a revision of the prices to be paid for agricultural produce imported from Ireland into Britain. These steps will be put into operation at the earliest possible moment and details will be made public as occasion arises.

A Standing Committee of Irish and British officials is being set up so that the trade relations of the two countries can be kept under review and consideration given to the feasibility, within the limits of the economic policy of each country, of further measures of mutual advantage.