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European Companies

Recommendation 26 (1950)

Parliamentary Assembly
See Doc. AS (2) 92 and Sitting of 25th August 1950.

The Assembly,

Having received from the Committee on Economic Questions a proposal for the creation of private and public European Companies,

1 Expresses the view that the development of insufficiently utilised resources and other activities of the nature of European public utilities might be carried out through agencies or companies established by the Member States in common, jointly financed by them with or without the aid of private capital, and given concessions and regulations by the said states in common,
2 Welcomes the proposal for the reciprocal treatment of nationals (individual and corporate entities) already under consideration by the Assembly and its Committee on Legal and Administrative Questions, and accordingly recommends that efforts should be made to protect private and public companies against discrimination when they extend their ownership or activities to more than one country,
3 Holds the view that the question of granting to such companies certain privileges as to customs, transfer of capital, etc..., while at the same time controlling their activities, involves a series of problems that should be studied further by the Committee on Economic Questions, taking into account the current development of economic integration of Europe,
4 Stresses that the best way of furthering activities of the kind mentioned is to proceed as fast as possible with a general reduction of restrictions of all kinds between the European countries, in the framework of a European full employment policy.