INTERNATIONAL AGREEMENTS OTHER THAN TREATIES [62 STAT. September 28, 1948 IT. I. A. S. 1819] 2 Stat. , Pt. , p.137. Agreement between the United States of America and Portugalrespecting economic cooperation under Public Law 472, 80th Congress. Signed at Lisbon September 28, 1948; entered into force September 28, 1948. ECONOMIC COOPERATION AGREEMENT BETWEEN THE UNITED STATES OF AMERICA AND PORTUGAL Preamble The Governments of the United States of America and Portugal: 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 economy 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 mainte- nance of internal financial stability and the development of economic cooperation, including all possible steps to establish and maintain valid rates of exchange and to reduce trade barriers; Considering that in furtherance of these principles the Government of Portugal has joined with other like-minded nations in a Convention for European Economic Cooperation signed at Paris on April 16, 1948[1] under which the signatories of that Convention agreed to undertake as their immediate task the elaboration and execution of a joint recovery program, and that the Government of Portugal 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 Govern- ment 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 independent of extraordinary outside economic assistance; Taking note that the Government of Portugal has already expressed its adherence to the purposes and policies of the Economic Coopera- tion Act of 1948: ' Department of State publication 3145. 2856
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