INTERNATIONAL AGREEMENTS OTHER THAN TREATIES [62 STAT. July 4, 1948 [T. I. A. S. 1794] Principles of Agree- ment. 62 Stat., Pt. 1, p. 137. Agreement between the bnited States of America and Turkey respecting economic cooperation under Public Law 472, 80th Congress. Signed at Ankara July 4, 1948; entered into force July 13, 1948. ECONOMIC COOPERATION AGREEMENT BETWEEN THE UNITED STATES OF AMERICA AND THE REPUBLIC OF TURKEY The Government of the United States of America and the Govern- ment of the Republic of Turkey: Recognizing that the restoration or maintenance in European countries of principles of individual liberty, free institutions, and genuine independence rests largely upon the establishment of sound economic conditions, stable international economic relationships, and the achievement by the countries of Europe of a healthy econ- omy independent of extraordinary outside assistance; Recognizing that a strong and prosperous European economy is essential for the attainment of the purposes of the United Nations; Considering that the achievement of such conditions calls for a European recovery plan of self-help and mutual cooperation, open to all nations which cooperate in such a plan, based upon a strong pro- duction effort, the expansion of foreign trade, the creation or main- tenance of internal financial stability and the development of eco- nomic cooperation, including all possible steps to establish and main- tain valid rates of exchange and to reduce trade barriers; Considering that in furtherance of these principles the Government of the Republic of Turkey has joined with other like-minded nations in a Convention for European Economic Cooperation signed at Paris on April 16, 1948 ['] under which the signatories of that Convention agreed to undertake as their immediate task the elaboration and execu- tion of a joint recovery program, and that the Government of the Republic of Turkey is a member of the Organization for European Economic Cooperation created pursuant to the provisions of that Convention; Considering also that, in furtherance of these principles, the Gov- ernment of the United States of America has enacted the Economic Cooperation Act of 1948, providing for the furnishing of assistance by the United States of America to nations participating in a joint program for European recovery, in order to enable such nations through their own individual and concerted efforts to become inde- pendent of extraordinary outside economic assistance; Taking note that the Government of the Republic of Turkey has already expressed its adherence to the purposes and policies of the Economic Cooperation Act of 1948; 1 Department of State publication 3146. 2566
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