Q. Consider the following statements regarding “Organization for Economic Co-operation and Development (OECD)”:
1.Its predecessor was Organization for European Economic Cooperation (OEEC).
2.All UN members were members of OECD.
Which of the statements given above is/are correct?

[A] 1 only

[B] 2 only

[C] Both 1 and 2

[D] Neither 1 nor 2

Answer: A
Notes:

Explanation: The roots of the Organization for Economic Co-operation and Development (OECD), Paris, go back to the rubble of Europe after World War II.

  • The Organization for European Economic Cooperation (OEEC) was established in 1947 to run the US-financed Marshall Plan for reconstruction of a continent ravaged by war.
  • Encouraged by its success and the prospect of carrying its work forward on a global stage, Canada and the US joined OEEC members in signing the new OECD Convention on 14 December, 1960.
  • The Organization for Economic Co-operation and Development (OECD) was officially born on September 30, 1961, when the Convention entered into force.
  • It now has 38 member including not only most advanced countries but also emerging countries like Mexico, Chile and Turkey.

Source: Ramesh Singh

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