The Organisation for European Economic Co-operation; (O.E.E.C.) came into being in April 1948. (Before the E.E.C.) This organisation emerged from a conference of sixteen nations who sought to establish a permanent organisation to work on a recovery programme for Europe and in particular to supervise the distribution of U.S. aid. The organisation adopted a permanent organisation for economic co-operation.
Its Aims were;
• To promote co-operation between European countries and programmes for the reconstruction of Europe
• To develop cross-European trade by reducing tariffs and other barriers to the
expansion of trade
• To study the feasibility of creating a customs union or free trade area and to
study a multi-lateral system of payments and achieve conditions for better
utilisation of Labour.
Encouraged by the success of the O.E.E.C. Canada and the US joined the O.E.E.C
which subsequently evolved into the Organisation for Economic Co-operation and
Development (O.E.C.D.) which was officially born on 30 September 1961, when
the Convention entered into force. Other countries joined in, starting with Japan
in 1964. Today, 35 O.E.C.D. countries worldwide regularly turn to one another to identify problems, discuss and analyse them, and promote policies to solve them.
Brazil, India and China Indonesia and South Africa, though not members are Key Partners of the Organisation and contribute to its work in a sustained and comprehensive manner in the development and regulation of trade. Together with them, the O.E.C.D. brings around its table 39 countries that account for 80% of world trade and investment, giving it a pivotal role in addressing the challenges facing the world economy.