Page:United States Statutes at Large Volume 62 Part 2.djvu/1307

 INTERNATIONAL AGREEMENTS OTHER THAN TREATIES [62 STAT. 'Tuy 6,1948 Agreement between the United States of America and the United Kingdom T. I. A. S. 17961 of Great Britain and Northern Ireland respecting economic cooperation under PublicLaw 472, 80th Congress. Signed at London July 6, 1948; entered into force July 6, 1948. ECONOMIC CO-OPERATION AGREEMENT BETWEEN THE UNITED STATES OF AMERICA AND THE UNITED KINGDOM Preamble Prciples of Agree The Governments of the United States of America and of the United ment. Kingdom of Great Britain and Northern Ireland: Recognising that the restoration or maintenance in European coun- tries of principles of individual liberty, free institutions, and genuine independence rests largely upon the establishment of sound economic conditions, stable international economic relationships, and the achievement by the countries of Europe of a healthy economy inde- pendent of extraordinary outside assistance; Recognising that a strong and prosperous European economy is essential for the attainment of the purposes of the United Nations; Considering that the achievement of such conditions calls for a European recovery plan of self-help and mutual co-operation, open to all nations which co-operate in such a plan, based upon a strong pro- duction effort, the expansion of foreign trade, the creation or mainte- nance of internal financial stability and the development of economic co-operation, including all possible steps to establish and maintain valid rates of exchange and to reduce trade barriers; Considering that in furtherance of these principles the Government of the United Kingdom has joined with other like-minded nations in a Convention for European Economic Co-operation signed at Paris on 16th April, 1948, [1] under which the signatories of that Convention agreed to undertake as their immediate task the elaboration and exe- cution of a joint recovery programme, and that the Government of the United Kingdom is a member of the Organisation for European Eco- nomic Co-operation created pursuant to the provisions of that Convention; Considering also that, in furtherance of these principles, the Gov- ernment of the United States of America has enacted the Economic 62Stat.,Pt.i,p.137. Co-operation Act of 1948, providing for the furnishing of assistance by the United States of America to nations participating in a joint programme for European recovery, in order to enable such nations through their own individual and concerted efforts to become inde- pendent of extraordinary outside economic assistance; Taking note that the Government of the United Kingdom has al- l Department of State publication 3145. 2596

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