Organization for European Economic Cooperation

The January 14, 1960, meeting of the Council of the Organization for European Economic Cooperation (OEEC) was preceded by a meeting of representatives of the organization's eighteen members and of the United States and Canada to examine the resolutions adopted by a special economic conference. At this meeting, which ended with approval of a move sponsored by the United States that was designed to reorganize economic cooperation and transform the organization, it was decided, and subsequently approved by the OEEC Council and the United States and Canada, that: 1) four experts, representing respectively North America, the European Free Trade Association (EFTA), the European Economic Community (EEC) and other European nations, would prepare a report on the transformation of OEEC for consideration by senior officials of twenty countries, namely, the OEEC nations and the United States and Canada, at a meeting scheduled for April 19, 1960; 2) a preparatory meeting of representatives of the same twenty nations would be held in a month's time, when decisions would be taken to appoint a permanent chairman, a secretariat, and working parties to look into outstanding trade problems; and 3) a group, consisting of Canada, France, West Germany, Italy, Portugal, Belgium, the United States, the United Kingdom, and a representative of EEC, would be informally set up to coordinate aid policies to underdeveloped countries. The outcome of the discussions was regarded as paving the way for a new Atlantic economic grouping, composed of the members of OEEC plus the United States and Canada, which would give priority to consideration of the problems between the two rival European economic groups, EEC and EFTA. Other matters discussed by the Council were the removal of discriminatory measures against imports from the dollar zone and the increase in assistance to underdeveloped countries.