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OECD Week brings member countries for 50th anniversary forum

May 23, 2011 - PARIS

The 50th Anniversary Forum of the Organization for Economic Cooperation and Development, set up 50 years ago on 14 Dec 2010 as an oracle and policy setter on global issues ranging from economics to innovation, will bring some 1400 representatives from up to 36 member countries to Paris. The forum coincides during OECD Week with the annual OECD ministerial summit. The OECD is about to grow by three countries - Estonia, Israel and Slovenia. Chile is next in line, followed by Russia.

The 50th Anniversary Forum of the Organization for Economic Cooperation and Development, set up 50 years ago on 14 Dec 2010 as an oracle and policy setter on global issues ranging from economics to innovation, will bring some 1400 representatives from up to 36 member countries to Paris. The forum coincides during OECD Week with the annual OECD ministerial summit. The OECD is about to grow by three countries -; Estonia, Israel and Slovenia. Chile is next in line, followed by Russia. The OECD states its vocation as building strong economies in its member countries, improving efficiency, honing market systems, expanding free trade and contributing to development in industrialized as well as developing countries. In 50 years, it has widened its interests beyond member countries. The organization's take on high government debt levels in many countries, the continuing squeeze on bank lending, financial market instability and other financial developments is always widely reported. The OECD describes the annual forum as a "multi-stakeholder summit" that brings together government ministers, business and labor leaders, civil society representatives and leaders of international organizations to discuss an international agenda. The forerunner of the OECD was the Organization for European Economic Co-operation (OEEC), which was formed to administer American and Canadian aid under the Marshall Plan for reconstruction of Europe after World War II. The convention establishing the OECD was signed by 18 European countries, the United States, and Canada on 14 Dec 1960, and was ratified two years later. OECD countries agreed in May 2010 on a round of enlargement. 'Estonia, Israel and Slovenia, along with Chile that has just deposited its instrument to become a full member, will contribute to a more plural and open OECD that is playing an increasingly important role in the global economic architecture,'; OECD Secretary-General Angel Gurría said. 'This new chapter in the history of the Organization confirms our global vocation as the group of countries that search for answers to the global challenges, and establish standards in many policy fields such as environment, trade, innovation or social issues." Russia is in earlier stages of the accession process, which will be watched to see if the country becomes the 36th member by the anniversary.

OECD web

Date written/update: 2011-05-23