On January 7, 2023,
Peruvian Prime Minister Alberto Otarola delivered the initial memorandum to the
Organisation for Economic Co-operation and Development (OECD), with a view to the upcoming accession of the country to said body.
In this regard, this article defines the OECD and Peru's process of accession into said body.
The OECD is an international organisation that works to build better policies for better lives. Its goal is to shape policies that foster prosperity, equality, opportunity, and well-being for all.
Together with governments, policy makers and citizens, the OECD works on establishing evidence-based international standards and finding evidence-based solutions.
Later, in 1961, the OECD was officially established as the successor to the Organisation for European Economic Co-operation (OEEC), which oversaw the implementation of the Marshall Plan —a major element in the economic recovery of Europe and in the establishment of democratic regimes in Western Europe.
Today, the OECD comprises 38 member countries, which span the globe, from North and South America to Europe and Asia-Pacific. They are represented by ambassadors at the OECD Council.
Benefits of OECD membership for Peru
CEPLAN finds that OECD full membership ensures the necessary assistance for the implementation of policies that promote prosperity and reduce poverty in the country,
Thus, it affirms that the OECD provides a highly specialized platform, in which governments can compare and exchange experiences on the implementation of economic and social policies.
In this sense, the international body is a safe and reliable source of information in areas as diverse as economy, trade, investment, social development, education, territorial development, environment, public administration, agriculture, employment, science and technology policies, among others.
"Admission as a full member confers a guarantee, a form of 'ISO certification' for the suitability and compliance of public policies and other socioeconomic development indicators, which will lead to our country to become a developed economy in the medium term," Ceplan stated.
Peru's rapprochement with OECD
The process of rapprochement with the OECD has been gradual. In 2008, Peru was admitted as an observer member in the OECD Investment Committee.
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Then, in 2009, Peru joined the OECD Development Centre, which is a space for analysis and the interchange of experiences on economic and social policies between developed and developing countries.
In 2012, Peru expressed its formal interest in becoming a member of the Organisation for the first time and conveyed the same interest for a second time in 2017.
Earlier, in 2014, the OECD Ministerial Council agreed to invite Peru to participate in the "Country Program," a mechanism that seeks to help a limited number of countries achieve OECD standards and practices —a process that the country underwent between 2014 and 2019.
On January 25, 2022, the OECD decided —by consensus— to invite Peru to start the process of accession to this institution.
(END) NGB/CVC/RMB
Published: 6/11/2023