The Organisation for European Economic Co-operation (OEEC), the initial version of the Organisation for Economic Co-operation and Development (OECD), came into being on April 16, 1948, to promote cooperation and reduce tariffs and barriers in intra-European trade with 18 member countries.

Following the destructive effects of the World War II, the OEEC was formed as a permanent organization to control the distribution of aid, based on the Marshall Plan and the Conference for European Economic Co-operation, according to the OECD.

The cooperation was established by Austria, Belgium, Denmark, France, Greece, Iceland, Ireland, Italy, Luxembourg, the Netherlands, Norway,

Read more: OEEC: 72 years after first step over economic cooperation in Europe