Organization for European Economic Cooperation

Abstract

According to the press, the four experts appointed by the Council of the Organization for European Economic Cooperation (OEEC) in January 1960 for the purpose of drawing up plans for a body to succeed OEEC recommended, in a report published on April 20, 1960, the establishment of a new economic organization linking Europe with North America, to be called the Organization for Economic Cooperation and Development. The principal difference between the proposed organization and OEEC, apart from the full membership of the United States and Canada, was to be its emphasis on the promotion of economic growth and development in Asia and Africa. The supreme body of the organization was to be a council of ministers with powers identical to those of the parallel OEEC body; that is, member governments would be expected to conform to its decisions, which were to be taken unanimously. However, any country was to have the right to abstain by disclaiming interest in the subject under discussion, thereby freeing itself of the obligation to carry out the resulting decisions. The daily operations of the organization were to be directed by a secretary-general of wide political prestige, appointed for a five-year term. The report also envisaged the establishment of a preparatory committee to decide which of OEEC's tasks should be continued by the new organization.