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?
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