The Taoiseach submitted a copy of the Heads of a Trade Agreement which were initialled by himself and the British Chancellor of the Exchequer in London on the 22nd June, 1948, at the conclusion of the negotiations between Irish and British Ministers which opened on the 17th June, 1948, together with a copy of a communiqué which was issued on the 22nd June, 1948, following the initialling of the Heads of the Agreement.

Approval was given for the negotiation with the British Government of a Trade Agreement embodying the Heads mentioned above.

It was understood that the draft of the Trade Agreement to be negotiated pursuant to the foregoing decision would be submitted to the Government, for approval, before signature.