Organization for Trade Cooperation
Organization for Trade Cooperation: proposed in 1955 through a GATT working party report as a permanent mechanism for administering the GATT. Its mandate would have been a limited version of what had been expected of the ITO. All GATT members would automatically have become members of the organization. One interesting point raised in the report of the working party is that countries appointed to the Intersessional Committee, which at that time was the only means of conducting business between the annual sessions, might consider appointing representatives of suitable calibre and the necessary authority to live in Geneva or nearby capitals so that they could contribute to its deliberations. Another of its recommendations was that the organization should be brought into a specialized agency relationship within the United Nations. The proposal for an Organization for Trade Cooperation failed to get United States congressional approval, and it lapsed. See also GATT Council of Representatives, United Nations specialized agencies and WTO.
Source: http://ctrc.sice.oas.org/trc/WTO/Documents/Dictionary%20of%20trade%20%20policy%20terms.pdf
Web site to visit: http://ctrc.sice.oas.org
Author of the text: W. Goode
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