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Exchange of Letters Amending the Economic Cooperation Agreement (as amended) between the Government of the United States of America and the Government of the French Republic Signed At Paris On 28 June 1948 [1953] PITSE 1 (11 September 1953)

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EXCHANGE OF LETTERS AMENDING THE ECONOMIC COOPERATION AGREEMENT (AS AMENDED) BETWEEN THE GOVERNMENT OF THE UNITED STATES OF AMERICA AND THE GOVERNMENT OF THE FRENCH REPUBLIC SIGNED AT PARIS ON 28 JUNE 1948

11 September 1953

ENTRY INTO FORCE: 11 SEPTEMBER 1953

The American Ambassador to the French Minister of Foreign Affairs

AMERICAN EMBASSY, Paris, September 11, 1953
No. 73

MY DEAR MR. PRESIDENT:

I have the honor to refer to the conversations, -- following the enactment into law of Public Law 400, 82nd Congress, amending the Economic Cooperation Act of 1948 and the Mutual Security Act of 1951, -- which have taken place between representatives of our two governments relating to the Economic Cooperation Agreement between the United States of America and France, signed at Paris on June 28, 1948, as heretofore amended. I also have the honor to confirm the understandings reached as a result of these conversations as follows:

(1) Whenever reference is made in the said Economic Cooperation Agreement, as amended, to the Mutual Security Act of 1951, or to the Economic Cooperation Act of 1948, such reference shall be construed as meaning such Acts as heretofore amended.

(2) The phrase, "five percent of each deposit", appearing in Article IV, paragraph 4 of the said Economic Cooperation Agreement shall be changed to "ten percent of each deposit". This provision is applicable to all counterpart deposits made to match dollar disbursements made against all procurement authorizations and technical assistance authorizations (to the extent that counterpart is required with respect to such technical assistance authorizations) issued on or after June 20, 1952.

I have the honor, further, to refer to conversations that have taken place between our representatives, from which it is understood that franc counterpart deposits will  be made by your Government pursuant to Article IV, paragraph 2 (c) of the said Economic Cooperation Agreement, as amended, commensurate with assistance on a grant basis to your Government in the form of transfers of funds pursuant to Section 111 (d) of the Economic Cooperation Act of 1948, as amended, as well as in the form of commodities, services and technical information.

I should be grateful if you would confirm the understandings expressed above.

Please accept, my dear Mr. President, the assurance of my highest consideration.
 

The French Minister of Foreign Affairs to the American Ambassador
LIBERTE.EGALITE.FRATERNITE
MINISTERE DES AFFAIRES ETRANGERES
REPUBLIQUE FRANCAISE

PARIS, le 11 septembre 1953.
 
MONSIEUR L'AMBASSADEUR,

Par lettre en date de ce jour, vous avez bien voulu attirer mon attention sur certains amendements a la loi de Cooperation Economique de 1948.

J'ai l'honneur de vous faire savoir que le Gouvernement francais prend acte des modifications apportees a la legislation des Etats-Unis par l'acte de Securite Mutuelle de 1952--loi publique 400, 82eme Congres--. Il n'a pas d'objection, dans l'execution de l'Accord de Cooperation Economique du 28 juin 1948  amende, a mettre immediatement en application les dispositions nouvelles indiquees dans votre communication precitee.

J'ai egalement l'honneur de vous confirmer que le Gouvernement francais, conformement aux dispositions de l'article IV paragraphe 2 (c) de l'Accord de Cooperation Economique du 28 juin 1948 amende, effectuera au compte special les depots en francs correspondant a une assistance accordee a titre de dons sous forme de transferts de fonds, en application de la Section 111 (d) de la loi de Cooperation Economique de 1948 amendee, aussi bien que sous forme de produits, services et informations techniques.

Je saisis cette occasion, Monsieur l'Ambassadeur, pour renouveler a votre Excellence l'assurance de ma haute consideration.

Translation

MINISTRY OF FOREIGN AFFAIRS
LIBERTY.EQUALITY.FRATERNITY
FRENCH REPUBLIC

PARIS, September 11, 1953.
 
MR. AMBASSADOR,

In a note dated today you were good enough to call my attention to certain amendments to the Economic Cooperation Act of 1948.

I have the honor to inform you that the French Government has taken due note of the changes made in the United States legislation by the Mutual Security Act of 1952 (Public Law 400, 82d Congress).  It has no objection, in the execution of the Economic Cooperation Agreement of June 28, 1948, as amended, to putting into force immediately thenew provisions indicated in your above-mentioned communication.

I also have the honor to confirm to you that the French Government, in accordance with the provisions of Article IV, paragraph 2 (c), of the Economic Cooperation Agreement of June 28, 1948, as amended, will pay into the special account the franc deposits commensurate with assistance extended on a grant basis in the form of transfers of funds, pursuant to Section 111 (d) of the Economic Cooperation Act of 1948, as amended, as well as in the form of products, services, and technical information.

I avail myself of this occasion, Mr. Ambassador, to renew to Your Excellency the assurance of my high consideration.

SIGNATORIES:

DOUGLAS DILLON
 
His Excellency

M. GEORGES BIDAULT,

Minister of Foreign Affairs, Paris.

BIDAULT
 
Son Excellence

l'Honorable DOUGLAS C. DILLON,

Ambassadeur des Etats-Unis

a Paris.

BIDAULT
 
His Excellency

DOUGLAS C. DILLON,

Ambassador of the United States, Paris.