Reply to the report by the Secretary General of the Organisation for Economic Co-operation and Development (OECE) on the activities of the Organisation in 1970
- Author(s):
- Parliamentary Assembly
- Origin
- Assembly debate on 5 October 1971 (10th Sitting) (see Doc. 3001, report of the Committee on Economic Affairs and Development). Text adopted by the Assembly on 5 October 1971 (10th Sitting).
The Assembly,
1. Having taken note of the report on the activities of OECD in 1970 by the Secretary General (
Doc. 2977) and of the report of the Committee on Economic Affairs and Development in reply (
Doc. 3001) ;
2. Considering that the role of OECD is to provide a forum for the confrontation and co-ordination of economic policies among the industrialised nations, particularly as between the United States, an enlarged European Community and Japan ;
3. Convinced that the economic and monetary instability of the last two years have demonstrated that the scope for in dependent national policies is besoming increasingly limited,
4. Congratulates OECD :
a on the decision to set up a small high-level group to "analyse the trade and related problems which arise in the longer-term perspective" ;
b on the decision to undertake a comprehensive study of the implications of the multinational company in the Industry Committee ;
c on the decision to put greater emphasis on reconciling member States' medium and long-term objectives ;
5. Approves the multi-policy approach to the problem of inflation advocated by OECD, but considers that successin reducing the present rate of increase in nominal incomes will depend on a redefinition of the prevalent philosophy of economic growth ;
6. Anticipates with interest the studies by OECD of the nature of the US payments imbalance as a factual contribution to the working out of rational policies for the correction of the problems affecting the US dollar ;
7. Emphasises that the work of OECD in analysing problems and establishing policy guidelines will only produce results if governments are prepared to play their part.
