1. At meetings in London on the 3rd and 4th November, 1947, Irish and British Ministers agreed to establish a Joint Standing Committee consisting of officials of the two Governments so that, in the words of the announcement issued to the Press at the time, 'the trade relations of the two countries can be kept under review and consideration given to the feasibility, within the limits of the economic policy of each country, of further measures of mutual advantage'.¹
2. Subsequently, discussions on an official level took place and draft terms of reference were agreed upon for submission to the two Governments. These draft terms of reference have the approval of the Departments of Finance, Industry & Commerce, Agriculture and External Affairs, as well as of the relevant British Departments.
3. The authority of the Government is now sought for the setting up of the Irish side of the Committee and for the following terms of reference:-
   • To keep under review the current economic relations between the two countries.
   • To consider any difficulties arising in carrying out the objective of increasing trade between the two countries which either side wishes to raise, it being understood that the Committee is not intended to replace or interfere with the despatch of current business through the usual channels.
   • To consider the feasibility, within the limits of the economic policy of each country, of further measures of mutual economic advantage, and particularly those designed to make the fullest and most efficient use of the productive capacities of both countries, to increase the exchange of goods between them or to strengthen the balance of payments position of the sterling area as a whole.

4. Meetings of the Committee will be held as necessary, but it has been agreed in the official conversations that the interval between meetings should not, as a general rule, exceed four months. Meetings will normally take place alternately in Dublin and London.
5. When the Committee meets in Dublin, the Chairman will be provided by the Department of External Affairs. It is understood that the Commonwealth Relations Office will provide the Chairman for the London Meetings. The Department of External Affairs will also provide the Secretary on the Irish side, who will arrange with the Secretary on the British side for such matters as the fixing of dates of meetings, the compilation of agenda and the circulation of papers.
6. It is understood that similar proposals in connection with the Committee, together with the above terms of reference, are being submitted to the British Government. If the approval of both Governments is given, a press notice, of which the text is attached, will be issued simultaneously in Dublin and London.
7. In Irish official correspondence etc. the Committee will be referred to as the Standing Joint Committee on Anglo-Irish Economic Relations.
8. The above proposals have received the approval of the Departments of Finance, Industry & Commerce, Agriculture and External Affairs, and are recommended by the Minister for External Affairs for the approval of the Government.

[enclosure]

In accordance with the decision reached at the discussions which took place in London in November, 1947, between members of the Irish and British Governments the undermentioned persons are hereby appointed to be a Standing Committee to:-

1. keep trade relations between the two countries under review;
2. consider the feasibility, within the limits of the economic policy of each country, of taking further measures to
   • increase supplies from each country to the other (increase the exchange of goods between the two countries);
   • strengthen the balance of payments position of the sterling area as a whole;
3. investigate any difficulties which may arise in the way of increasing trade between the two countries.
4. Consider any other questions which may be referred to the Committee by both Governments:-

(Names follow).