European Economic Co-operation, Organisation for
- European Economic Co-operation, Organisation for
-
organization set up by a convention signed in Paris in April 1948 to coordinate efforts to restore Europe's economy under the European Recovery Program (
Marshall Plan). Among its many functions, the OEEC helped abolish quantitative trade restrictions between its member countries, allocated scarce resources among them, and devised a system for regular consultation on matters of common economic concern. In 1961 it was superseded by the Organisation for Economic Co-operation and Development, which included non-European members.
See Economic Co-operation and Development, Organisation for.
* * *
Universalium.
2010.
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