611.3131/88: Telegram
The Secretary of State to the Chargé in Venezuela (Villard)
12. Your No. 18, February 25, 3 p.m.11 Please inform Foreign Minister before Cabinet meeting March 5, that the draft of the proposed article on foreign exchange is still being considered in the Department and that it will be mailed to you in the near future. You should add that this article will be designed to safeguard the other general provisions of the agreement and the duty concessions from impairment through the operation of an exchange control system.
You should seek to reach an ad referendum agreement on the general provisions already proposed, and on the exchange article to be proposed shortly, as soon as possible.
You may inform the Venezuelan Government that if agreement is reached on the principles embodied in the general provisions already submitted, and on the principle of the proposed exchange provision, prior to April 1, this Government is prepared to announce publicly on that date that it contemplates negotiating a trade agreement with Venezuela.
The Department anticipates instructing you to proceed with discussion of the schedules as soon as it learns that substantial agreement has been reached with reference to the general provisions and you may so inform the Venezuelan Government.
- Not printed.↩