The press announced that the Inter-American Economic and Social Council met in Punta del Este, Uruguay, under the auspices of the Organization of American States (OAS) from August 5 to 17, 1961. A draft act embodying the principles of the “Alliance for Progress” plan for the economic development of Latin America envisaged by the United States was put before the meeting by the delegates of Argentina, Brazil, Chile, Mexico, and the United States, according to press reports. Mr. Douglas Dillon, United States Secretary of the Treasury, promised that his government would provide active assistance in the form of development loans running up to 50 years, but Mr. Dillon made it clear that the development scheme depended on the local programs for social and economic advancement. It was noted that aside from the United States offers, some European and odier countries had indicated that they would take part in development programs in the area.

The Assembly of Western European Union (WEU) held the first part of its seventh ordinary session in London from May 29 to June 1, 1961. Mr. Arthur Conte (France) was President of the session. The Prime Minister of the United Kingdom, Mr. Harold Macmillan, welcomed the delegates and broached the question of his country's relations with Europe in the following terms: 1) the movement toward European unity should be allowed to grow naturally—it could not be imposed; 2) the United Kingdom was determined to press forward with the consolidation of western Europe; and 3) three problems confronting his country vis-à-vis European unity were (a) British agricultural difficulties, (b) the special relationship of the Commonwealth countries with Great Britain, and (c) British association with the European Free Trade Association (EFTA).

The nineteenth session of the contracting parties to the General Agreement on Tariffs and Trade (GATT) was held in Geneva from November 13 to December 9, 1961, under the chairmanship of Mr. Edmundo Penna Barbosa da Silva (Brazil). The trade ministers of 44 contracting countries met from November 27 to 30 to discuss the main problems of international trade, inter alia: the reduction of tariff barriers to trade, trade in agricultural products, and obstacles to trade of less developed countries. In addition to these main subjects, the question of the application of article XXXV to Japan was raised.

The twentieth plenary meeting of the International Cotton Advisory Committee (ICAC), Which was held in Tokyo from May 10 through 23, 1961, was attended by delegates from 34 member states and from nineteen nonmember countries. Mr. E. D. White, chairman of the Standing Committee, commented in presenting its annual report that 1960–1961 had been a good year for cotton, with production at a new high and consumption well sustained. The cotton surplus of former years had been reduced to more manageable proportions, he added, with the result that in many cases prices had become more favorable for producers. He stressed the importance of keeping under study factors that might influence the long-term prospects of cotton. The Executive Secretary of the Committee, Mr. Robert Evans, noted in his annual report that there had not been any agreements to stabilize cotton prices and markets for a number of years. While United States stabilization of its own markets and prices had done much to stabilize those of the rest of the world, it could also be argued that changes in United States policy had upset the world market.

The International Tin Council met in October 1961, at Which time the tin producing countries proposed that the “floor” and “ceiling” prices under the agreement should be raised from their respective levels of £730 and, £880 a ton to, £800 and, £1,000 a ton. The motion was, however, defeated by the votes of the consuming countries.