Economic Co-operation Conference, Bonn

The Conference on Economic Co-operation in Europe, which is considered one of the landmark events in the development of the CSCE/OSCE's economic dimension, was held from 19 March to 11 April 1990 in Bonn.

One of the main reasons for this was that the participating States, by expressing their strong commitment to the principles of a market economy, opened the door to greater economic co-operation, as set out in the second 'basket' of the Helsinki Final Act.

Sustainable economic growth

The final document of the Conference noted that the participating States "share the common objectives of sustainable economic growth, a rising standard of living, an improved quality of life, expanding employment, efficient use of economic resources, and protection of the environment."

They agreed, therefore, to "endeavour to achieve or maintain" the following:

• Fiscal and monetary policies that promote balanced, sustainable economic growth and enhance the ability of markets to function efficiently;
• International and domestic policies aimed at expanding the free flow of trade, capital, investment and repatriation of profits in convertible currencies;
• Free and competitive market economies where prices are based on supply and demand;
• Policies that promote social justice and improve living and working conditions;
• Environmentally sustainable economic growth and development;
• Full recognition and protection of all types of property including private property, and the right of citizens to own and use them, as well as intellectual property rights;
• The right to prompt, just and effective compensation in the event private property is taken for public use;
• Direct contact between customers and suppliers in order to facilitate the exchange of goods and services among companies - whether private or state-owned - and individuals in both domestic and international markets.

The desire for a greater OSCE role in economic and environmental matters would later lead to the creation of the Economic Forum and the post of Co-ordinator of OSCE Economic and Environmental Activities.