Latin American common market

XIV. RESOLUTIONS ADOPTED ON THE REPORTS OF THE SECOND COMMITTEE
1430. Latin American common market

The General Assembly, Recalling section I of Economic and Social Council resolution 679 C (XXVI) of 10 July 1958, in which the Council considers it desirable gradually and progressively to establish a Latin American regional market on multilateral and competitive bases, Taking note of resolution 6 (II) of 19 May 1959 of the Trade Committee of the Economic Commission for Latin America, contained in the Committee's report approved by the Commission in its resolution 168 (VIII) of 22 May 1959, in which the Committee decided to intensify efforts conducive to the increase of economic co-operation among the countries of the region, with a view to constituting a Latin American common market, Considering that, when the Economic and Social Council, at its twenty-eighth session, examined the report of the Economic Commission for Latin America,[1] appreciation was expressed of the part the Commission had played in preparing plans for the establishment of a common market in the region,

1. Expresses the hope that the common market will be organized in such a way as to help to expand and diversify trade among the Latin American countries and between them and other regions of the world, and to accelerate their national and regional economic development, with a consequent rise in the level of living of their peoples;

2. Expresses its appreciation of the work to this end being carried out by the Economic Commission for Latin America;

3. Recommends that the Economic Commission for Latin America should continue to assign high priority to the work being done in this field.

846th plenary meeting,
5 December 1959.

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[1] Official Records of the Economic and Social Council, Twenty-eighth Session, Supplement No. 4 (E/3246/Rev.2).