The significance of the Schuman Declaration in 1950 lies in its foundational role in the European integration process. Proposed by French Foreign Minister Robert Schuman, the declaration called for the pooling of coal and steel production between France and Germany, thus fostering economic cooperation and reducing the likelihood of future conflicts. It laid the groundwork for the establishment of the European Coal and Steel Community (ECSC), which was the first step toward what would later become the European Union. The Schuman Declaration is often seen as a turning point in European history, as it promoted peace, stability, and shared prosperity among European nations.