Organization for Economic Cooperation and Development

The press reported that on September 30, 1961, the new Organization for Economic Cooperation and Development (OECD) formally came into being with seventeen out of a possible twenty member nations having. deposited their instruments of ratification of the OECD convention. At the time of the entry into force of the convention, the following nations had deposited their ratifications: Austria, Belgium, Canada, Denmark, France, Greece, Iceland, Ireland, Norway, Portugal, Spain, Sweden, Switzerland, Turkey, the United Kingdom, the United States, and West Germany. Italy, the Netherlands, and Luxembourg shortly afterwards joined the organization. The OECD convention required members to contribute to the expansion of world trade on a multilateral, nondiscriminatory basis in accord with international obligations. At the first meeting of the organization in Paris on September 30, 1961, Mr. Donald Fleming, Canadian Finance Minister, was elected chairman of the Ministerial Council, and Mr. Gunnar Lange, Swedish Commerce Minister, and Mr. Charles Arliotis, Greek Minister of Coordination, vice-chairmen. Mr. Thorkil Kristensen, the former Secretary-General of OEEC, was named Secretary-General of the new organization, and Mr. Charles Adair (United States) and Mr. Jean Cottier (France) were designated deputy Secretaries-General.