Organization for Economic Cooperation and Development

Extract

The third meeting of the Ministerial Council of the Organization for Economic Cooperation and Development (OECD) was held in Paris on November 19–20, 1963, under the chairmanship of Dr. Halyard Lange, the Norwegian Foreign Minister. During the discussion on economic growth the Council took note of the improvement in the prospects for economic growth in member countries since the end of 1962, especially in the United States, the United Kingdom, and Canada. It was expected that the increase in gross national product (GNP) of the OECD area for the period 1960–1964 would correspond to the growth target of 50 percent set in 1961 for the ten-year period beginning with 1960. Because of the persistent gap between the industrialized countries and those that were in the process of development, the Council considered that OECD and its more industrialized members should continue to devote their attention and cooperation to the development problems of the less developed members. The ministers noted in particular that a new Spanish development program would be inaugurated in 1964.