Economic Committee

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Economic Committee

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The AC/127 chronological series contains the records of the Economic Committee. This committee was set up in January 1957 by the Council, pursuant to the recommendation of the Committee of Three(1), with a view to promoting cooperation between NATO member nations. Its terms of reference, defined on 23 January 1957, were finally adopted on 14 February, 1957. They appear in Annex A to C-R(57)4, and stipulate that the Committee of Economic Advisers(2), set up under the authority of the Council, "will consist of representatives from all member nations. They could normally be the officials mainly concerned with the work of other international economic organizations". This Committee was tasked to "study and report to the Council on economic issues of special interest to the Alliance, particularly those which have political or defence implications or affect the economic health of the Atlantic Community as a whole. Such studies or preparatory work may be assigned to it by the Council or authorised by the Council at the request of the Secretary General or of the Committee itself." The Committee of Economic Advisers was assigned the tasks which were previously those of the Committee of Technical Advisers after the disbandment of that group(3) . The Committee of Economic Advisers met for the first time on 28 March 1957, chaired by the Assistant Secretary General for Economics and Finance. Its first task was to more closely define the scope of its work and develop a Programme of Work. In April 1958, the Council agreed that the Committee on Soviet Economic Policy would act as a Sub-Committee(4) under the general direction of the Committee of Economic Advisers (C-M(58)61 and C-R(58)28). In February 1970, the Committee re-examined its activities with a view to simplifying its procedures and concentrating its efforts on activities corresponding most closely to the needs of the Council and delegations and came to the conclusion that "there is no need to modify the terms of this mandate which appear sufficiently flexible"(C-M(70)2. Within the scope of the mandate, a distinction was identified between two main tasks: - to supply, as required, the Council with economic assessments and advice either on current policy issues or on more general problems; - to establish a pool of economic data with a view to providing a common interpretation of the situation for the use of national delegations. At its meeting on 25 February 1970 (C-R(70)8), the Council agreed that "the report C-M(70)2 should serve as a guide for the Committee's future activities" and that in English the Committee would be called "Economic Committee" (C-R(70)8). The Economic Committee is a standing committee which still sits today.


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