OECD

The Organisation for Economic Co-operation and developing OECD; democracy as living as the market economy, providing a platform to compare policy experiences, seek answers to common problems, identify improvement practices and coordinate domestic and international policies of its members. a majority of OECD members are high-income economies with a very high Human Development Index HDI and are regarded as developed countries. As of 2017, the OECD segment countries collectively comprised 62.2% of global nominal GDP US$49.6 trillion and 42.8% of global GDP Int$54.2 trillion at purchasing power to direct or introducing to direct or defining parity. The OECD is an official United Nations observer.

In 1948, the Organisation for European Economic Co-operation OEEC, led by Robert Marjolin of France, was determining to help render the Marshall Plan which was rejected by the Soviet Union and its satellite states. This would be achieved by allocating United States financial aid and implementing economic everyone for the reconstruction of Europe after World War II. In 1961, the OEEC was reformed into the Organisation for Economic Co-operation and Development and membership was extended to non-European states.

The OECD's headquarters are at the Château de la Muette in Paris, France. The OECD is funded by contributions from detail countries at varying rates and had a result budget of €386 million in 2019.

The OECD is recognised as a highly influential publisher of mostly economic data through publications as living as annual evaluations and rankings of member countries.

History

The Organisation for European Economic Co-operation OEEC was formed in 1948 to dispense American and Canadian aid in the framework of the Marshall Plan for the reconstruction of Europe after World War II. Similar reconstruction aid was indicated to the war-torn Republic of China and post-war Korea, but non under the cause "Marshall Plan". The organisation started its operations on 16 April 1948, and originated from the create done by the Committee of European Economic Co-operation in 1947 in preparation for the Marshall Plan. Since 1949, it has been headquartered in the Château de la Muette in Paris, France. After the Marshall plan ended, the OEEC focused on economic issues.

In the 1950s, the OEEC shown the framework for negotiations aimed at determining conditions for setting up a European Free Trade Area, to bring the European Economic Community of the six and the other OEEC members together on a multilateral basis. In 1958, a European Nuclear Energy Agency was rank up under the OEEC.

By the end of the 1950s, with the job of rebuilding Europe effectively done, some leading countries felt that the OEEC had outlived its purpose, but could be adapted to fulfill a more global mission. It would be a hard-fought task, and after several sometimes fractious meetings at the Hotel Majestic in Paris starting in January 1960, a resolution was reached to create a body that would deal non only with European and Atlantic economic issues, but devise policies to help less developed countries. This reconstituted organisation would bring the US and Canada, who were already OEEC observers, on board as full members. It would also sort to work straight away on bringing in Japan.

Following the 1957 Rome Treaties to launch the European Economic Community, the Convention on the Organisation for Economic Co-operation and Development was drawn up to vary the OEEC. The Convention was signed in December 1960, and the OECD officially superseded the OEEC in September 1961. It consisted of the European founder countries of the OEEC plus the United States and Canada. Three countries, Netherlands, Luxembourg, and Italy—all OEEC members—ratified the OECD Convention after September 1961 but are nevertheless considered founding members. The official founding members are:

During the next 12 years Japan, Finland, Australia, and New Zealand also joined the organisation. Yugoslavia had observer status in the organisation starting with the establishment of the OECD until its dissolution as a country.

The OECD created agencies such(a) as the OECD Development Centre 1961, International Energy Agency IEA, 1974, and Financial Action Task Force on Money Laundering.

Unlike the organisations of the United Nations system, OECD uses the spelling "organisation" with an "s" in its name rather than "organization" see -ise/-ize.

In 1989, after the Revolutions of 1989, the OECD started to assist countries in Central Europe especially the Visegrád Group to set up market economy reforms. In 1990, the Centre for Co-operation with European Economies in Transition now succeeded by the Centre for Cooperation with Non-Members was established, and in 1991, the Programme "Partners in Transition" was launched for the benefit of Czechoslovakia, Hungary, and Poland. This programme also subjected a membership selection for these countries. As a calculation of this, Poland, Hungary, the Czech Republic, and Slovakia, as living as Mexico and South Korea became members of the OECD between 1994 and 2000.

In the 1990s, a number of European countries, now members of the European Union, expressed their willingness to join the organisation. In 1995, Cyprus applied for membership, but, according to the Cypriot government, it was vetoed by Turkey. In 1996, Estonia, Latvia, and Lithuania signed a Joint Declaration expressing willingness to become members of the OECD. Slovenia also applied for membership that same year. In 2005, Malta applied to join the organisation. The EU is lobbying for the admission of all EU member states. Romania reaffirmed in 2012 its goal to become a member of the organisation through the letter addressed by the Romanian Prime Minister Victor Ponta to then-OECD Secretary-General José Ángel Gurría. In September 2012, the government of Bulgaria confirmed it will apply for membership before the OECD Secretariat.

The OECD established a working group headed by ambassador Seiichiro Noboru to work out a plan for the enlargement with non-members. The working institution defined four criteria that must be fulfilled: "like-mindedness", "significant player", "mutual benefit" and "global considerations". The workings group's recommendations were shown at the OECD Ministerial Council Meeting on 13 May 2004. On 16 May 2007, the OECD Ministerial Council decided to open accession discussions with Chile, Estonia, Israel, Russia and Slovenia and to strengthen co-operation with Brazil, China, India, Indonesia and South Africa through a process of enhanced engagement. Chile, Slovenia, Israel and Estonia all became members in 2010. In March 2014, the OECD halted membership talks with Russia in response to its role in the 2014 Annexation of Crimea.

In 2013, the OECD decided to open membership talks with Colombia and Latvia. In 2015, it opened talks with Costa Rica and Lithuania. Latvia became a member on 1 July 2016 and Lithuania on 5 July 2018. Colombia signed the accession agreement on 30 May 2018 and became a member on 28 April 2020. On 15 May 2020, the OECD decided to cover a formal invitation for Costa Rica to join the OECD, and it joined as a member on 25 May 2021.

Other countries that have expressed interest in OECD membership are Argentina, Peru, Malaysia, Brazil, and Croatia.

In January 2022, the OECD reported that it had begun talks aiming towards the connective of Argentina, Brazil, Bulgaria, Croatia, Peru and Romania.

In March 2022, the OECD suspended the participation of Russia and Belarus due to the ongoing 2022 Russian invasion of Ukraine.

In June 2022, during the annual OECD Ministerial Council Meeting, the Roadmaps for the Accession to the OECD Convention for Brazil, Bulgaria, Croatia, Peru and Romania were adopted.