Economic relations between Europe and North America in the light of European integration

Recommendation 323 (1962)

Author(s):

Parliamentary Assembly

Origin

Assembly debate on 18th May 1962 (7th Sitting) (see Doc. 1424, Report of the Economic Committee). Text adopted by the Assembly on 25 January 2000 (2nd Sitting).

The Assembly,

Recognising that the development of economic integration in Western Europe is likely to result in considerable changes in its economic relations with North America ;

Considering that the development of Western Europe and North America into two mainly self-contained economic units is most undesirable ;

Believing that the solution to these problems is to be sought in increasingly liberal commercial policies on both sides of the Atlantic, and in a co-ordination of general economic policies ;

Recognising the responsibilities of Western Europe and North America towards the new countries in process of development ;

Welcoming, on these grounds, the proposals embodied in the Trade Expansion Bill now before the United States Congress,

Recommends that the Committee of Ministers :

1 should ask the OECD to expedite its efforts to co-ordinate the economic policies of its member States, and, in particular, of the EEC and the United States ;

2 should urge member Governments to take measures, within the framework of OECD, to open Atlantic markets to semifinished products and manufactures originating in the less developed countries, as well as to stabilise the prices of raw materials imported from these countries ;

3 should urge the EEC as well as the Members of EFTA and other member Governments to prepare measures, corresponding to those envisaged in the United States, thus establishing the basis for an open economy comprising the two main Atlantic markets.