Which organization replaced the Organisation for European Economic Co-operation in 1961?

The Organisation for Economic Co-operation and Development replaced the Organisation for European Economic Co-operation in 1961.

The OECD Convention was signed in Paris on 14 December 1960, and the new organization formally began on 30 September 1961. The OEEC had been created in 1948 to administer European recovery cooperation connected with the Marshall Plan after the Second World War.

The OECD broadened that mission beyond postwar European reconstruction. Its members cooperate on economic policy, trade, taxation, education, development, statistics, and other public-policy issues. The organization describes itself as a forum and knowledge hub rather than a conventional free-trade bloc.

The OECD is therefore different from the WTO, which administers binding multilateral trade agreements, and from EFTA, which is a regional free-trade association. Its name reflects the wider geographic and policy scope adopted when it succeeded the OEEC.