ECONOMIC INTELLIGENCE

• Document Type: CREST
• Collection: Library of Congress
• Document Number (FOIA) /ESDN (CREST): LOC-HAK-19-6-28-4
• Release Decision: RIFLIM
• Original Classification: S
• Document Page Count: 3
• Document Creation Date: January 11, 2017
• Document Release Date: November 4, 2010
• Sequence Number: 28
• Publication Date: January 11, 1972
• Content Type: MEMO

No Objection to Declassification in Full 2012/05/14 : LOC-HAK-19-6-28-4
'~)vIEIvIORAND~(1M ~ ~
NATIONAL SECURITY.., COUNCIL
ENSITIVE
MEMORANDUIvI FOR DR. K15571VGER,/
1
FROM: Phil. Odeen.;~
SUBJECT: Economic Intelligence
35879X
ACTION'
Januaxy 11, 1972
In June the President directed the President's Foreign Intellgence?
Advisory $oard (PFIAB) to study the adequacy of the. collection 'and'
dissemination of foreign economic intelligence.. The xeport was
submitted to the President following the Board's Decerxxber meeting.
Surnrnary
The Board believes economic intelligence has not received sufficient
attention since World Wax II, reflecting the unquestioned economic
donninance of the U. S. and our attention on political and zriilitary
,matters. This situation has changed drastically ~ recent years as
a xesul~ cif the rapid economic progress of West Europe, Japan and
othex nations. Given these developments, we can no longer afford
to neglect economic intelligence.
The $oard has recoxnrnended actions affecting the collection effort,
production of intelligence, and dissemination. In brief, they conclude:
-- Much grea:~er attention should be given to collection. This
includes greater use of NSA's capabilities, clandestine collection,
and upgrading the quality of people i.n our embassies concerned
with economic and business affairs.
-- The fractionalisation o? economic .responsibilities within
the U.5. government and the lack of security clearances, storage
facilities, etc., has severely limited the dissemination of economic
intelligence. 'There has been no systematic effort to get available
S,r,~:r~ ~-?"SENSITX"V~E
HANDLE VIA COMINT
CONTROI.~ SYSTEM'ONL~Y
No Objection to Declassification in Full 2012/05/14 : LOC-HAK-19-6-28-4
 No Objection to Declassification in Full 2012/05/14 : LOC-HAK-19-6-28-4
SECRET /SENSI~TIV~E,_
intelligence tb officials who need it. It has. also not been available.
to the business and. industrial. community wha need it in order to
furthex U,S. overseas business and trade interests. - .
Based an these findings:, the, PFIAB recommended a sez?ies of
actions to revitalize economic intelligence, develop xequirements,
allocate resources to improve collection and pxoductian and
deterxxiine v~iays to 'make this intelligence an effective tagl of our
international economic policy. The Director of Central Intelligence
would have prime responsibility for this effoxt.
Actian
The Board recamxnends that you send their findings and recomrnenda-
bans to the key U. S. government agencies involved, for review and
comment. We have reservations about some aspects of the Board's
recomnnendatians, in particular the problems involved in providing
intelligence to CJ. S. business interests. But before we xeview the
matter in detail, agency views should be elicited.
A memo fox your signature asking for .agency views is .enclosed (Tab A).
I recommend signature. Sob Horm.ats cancuxs. I have also discussed
this issue with Andy Marshall by phone and he concurs.
RECO1yTMENDATION
That you sign the memo at Tab A.
SECRET /SENSITIVE
HANDLE VIA COMINT
CONTROL SYSTEM ONLY
No Objection to Declassification in Full 2012/05/14 : LOC-HAK-19-6-28-4
 No Objection to Declassification in Full 2012/05/14 : LOC-HAK-19-6-28-4
THE WHITE HOUSE
WASMING7oN
SECRET/5ENSITIVE/NOI"ORN ~ Fcbxuary 8, 1972
MEMORANDUM FOII
The Secxetary of State
The Secretary of the Treasury
The Secretary of Gommexc~
The Director of Central Intelligence
The Director, Office of Management and Budget
The Assistant to the President for International
Economic Policy
Economic Intelligence
The President dixected his Foreign Intelligence Advi.soxy Soard
to study U. S. collection and dissemination of foxeign economic
intelligence and to submit its findings and xecommendations to
him:.
A copy of the PFIAS xepoxt is enclosed, and the President requests
youx caxnments on it by March 1, 1972.
cc; President's Foreign Intelligence
Ad-ra:s~y 13oaxd
.?
HANDLE VIA C OMINT
SECRET/SENSITIVE/NOI:'ORN CONTROL SYSTEM ONLY
No Objection to Declassification in Full 2012/05/14 : LOC-HAK-19-6-28-4