Page:United States Statutes at Large Volume 63 Part 3.djvu/308

 INTERNATIONAL AGREEMENTS OTHER THAN TREATIES [63 STAT. June 27, 1949 IT. I. A. S. 953] 61 Stat., Pt. 4, p. 3745. 62 Stat. Pt. 2, P. 1840; Pt. 3, p. 2647. 61 Stat., Pts. Sand 6. Agreement between the United States of America and Sweden respecting quantitative import restrictions and deferment of payments, extending the agreement of June 24, 1947, as modified, after June 30, 1949. Effected by exchange of memorandums dated at Washington June 27, 1949; entered into force June 27, 1949. The Swedish Embassy to the Department of State EMBASSY OF SWEDEN WASHINGTON 8, D. C. MEMORANDUM The Government of Sweden wishes to refer to discussions which have been held between its representatives in Washington and rep- resentatives of the Government of the United States of America con- cerning the problems faced by the Government of Sweden as the result of the serious loss of its gold and dollar exchange. These discussions have resulted in a mutual understanding between the two Govern- ments as follows: 1. Because of the large deficit in the Swedish balance of payments with the hard currency areas of the world, it is recognized that the Government of Sweden continues to be faced with the necessity of taking measures to correct its present imbalance of trade and to con- serve its foreign exchange. The import restrictions imposed by the Government of Sweden on March 15, 1947, as presently applied, are understood to serve these purposes. 2. It is therefore agreed that the provisions contained in the ex- change of aide-memoire between the two Governments dated June 24, 1947, as modified by the exchange of memoranda dated February 11, 1948 and June 12, 1948 shall continue to be applied after June 30, 1949, until the Government of Sweden becomes a contracting party to the General Agreement on Tariffs and Trade concluded at Geneva, Switzerland, on October 30, 1947, or until June 30, 1950, whichever is the earlier. The Government of Sweden is now engaged in tariff negotiations in Annecy, France, looking toward its eventual accession to that Agreement. If, however, Sweden has not adhered to the General Agreement on Tariffs and Trade by May 1, 1950, the two Governments agree to review the situation for the purpose of con- sidering such actions as the circumstances may demand. It is further agreed that either Government after consultation as to the continued justification for this understanding may terminate it on sixty days written notice. WASHINGTON. D. C. . June 27, 1949. A. AFF. 2612

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