Resolution on the Activities of the Committe of Seven

CM/Res.333 (XXIII) RESOLUTION ON THE ACTIVITIES OF THE COMMITTEE OF SEVEN

The Council of Ministers of the Organization of African Unity meeting in its Twenty Third Ordinary Session in Mogadiscio, Somalia from 6 to 11 June 1974

HAVING STUDIED Reports CM/600, CM/603 and CM/606 submitted by the Committee of Seven and General Secretariat on the effects of the oil embargo on Member States and having considered the opinion of the Member States of the Arab League as contained in the Report and the proposals of the Arab League with the view to strengthening cooperation between African and Arab States;

MINDFUL of the need to strengthening co-operation between OAU Member States and Members of the Arab League:

1. ACCEPTS the US$200 million set up by the Arab oil-producing countries and wishes to record its appreciation for this valuable act of solidarity;

2. REQUESTS that this fund be transferred to the African Development Bank which would administer it on behalf of OAU;

3. REQUESTS that the OAU committee of Seven in co-operation with all Member States especially oil-producing Member States, the name and define the terms and conditions of access to this fund;

4. DECIDES that the Fund be open to all oil importing Member States and that special attention be paid to the land locked and drought stricken countries;

5. APPEALS to all oil producing countries to contribute to thi s fund;