Page:United States Statutes at Large Volume 62 Part 2.djvu/855

 62 STAT.] AUSTRIA-ECONOMIC COOPERATION-JULY 2, 1948 Agreement between the United States of America and Austria respecting economic cooperationunder Public Law 472, 80th Congress. Signed at Vienna July 2, 1948; entered into force July 2, 1948. ECONOMIC COOPERATION AGREEMENT BETWEEN THE UNITED STATES OF AMERICA AND AUSTRIA July 2, 1948 [T. I. A. S. 17801 PREAMBLE The Governments of the United States of America and Austria: mPnciples of Agree. ment. Recognizing 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; Recognizing 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 cooperation, open to all nations which cooperate 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 cooperation, 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 Austria has joined with other like-minded nations in a Convention for European Economic Cooperation signed at Paris on April 16,1948, [1] under which the signatories of that Convention agreed to undertake as their immediate task the elaboration and execution of a joint recovery program, and that the Government of Austria is a member of the Organization for European Economic Cooperation created pur- suant to the provisions of that Convention; Considering also that, in furtherance of these principles, the Govern- ment of the United States of America has enacted the Economic Cooperation Act of 1948, providing for the furnishing of assistance by the United States of America to nations participating in a joint program 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 Austria has already expressed its adherence to the purposes and policies of the Economic Cooperation Act of 1948; 1 Department of State publication 3145. 62 Stat., Pt. 1, p. 137. 2137

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