62 STAT.] UNITED KINGDOM-ECONOMIC COOPERATION-JULY 6, 1948 ready expressed its adherence to the purposes and policies of the Economic Co-operation Act of 1948; Desiring to set forth the understandings which govern the furnish- ing of assistance by the Government of the United States of America under the Economic Co-operation Act of 1948, the receipt of such as- sistance by the United Kingdom, and the measures which the two Governments will take individually and together in furthering the recovery of the United Kingdom as an integral part of the joint pro- gramme for European recovery; Have agreed as follows:- ARTICLE I 1. The Government of the United States of America undertakes to assist the United Kingdom, by making available to the Government of the United Kingdom or to any person, agency or organisation des- ignated by the latter Government such assistance as may be requested by it and approved by the Government of the United States of Amer- ica. The Government of the United States of America will furnish this assistance under the provisions, and subject to all of the terms, conditions and termination provisions, of the Economic Co-operation Act of 1948, acts amendatory and supplementary thereto andappro- priation acts thereunder, and will make available to the Government of the United Kingdom only such commodities, services and other assistance as are authorised to be made available by such acts. 2. The Government of the United Kingdom, acting individually and through the Organisation for European Economic Co-operation, consistently with the Convention for European Economic Co-opera- tion signed at Paris on 16th April, 1948, will exert sustained efforts in common with other participating countries speedily to achieve through a joint recovery programme economic conditions in Europe essential to lasting peace and prosperity and to enable the countries of Europe participating in such a joint recovery programme to become independent of extraordinary outside economic assistance within the period of this Agreement. The Government of the United Kingdom reaffirms its intention to take action to carry out the provisions of the General Obligations of the Convention for European Economic Co- operation, to continue to participate actively in the work of the Organisation for European Economic Co-operation, and to continue to adhere to the purposes and policies of the Economic Co-operation Act of 1948. 3. With respect to assistance furnished by the Government of the United States of America to the United Kingdom and procured from areas outside the United States of America, its territories and posses- sions, the Government of the United Kingdom will co-operate with the Government of the United States of America in ensuring that procurement will be effected at reasonable prices and on reasonable terms and so as to arrange that the dollars thereby made available to the country from which the assistance is procured are used in a man- ner consistent with any arrangements made by the Government of the United States of America with such country. 2597 62 Stat., Pt.1,p. 137. Assistance and coop- eration. 62Stat., Pt. 1,p. 137.
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