Brasilia, 27 January 2022 (TDI): The State of Brazil was invited officially to start the process to become a Permanent Member of the Organization for Economic Co-operation and Development (OECD).
Indeed, the OECD invited Brazil to begin the process to join the organization, where most advanced economies interact. The process will include an in-depth evaluation of the candidate, examined by 20 technical committees to see if the candidate aligns with OECD standards of policies and practices.
The technical committees will study policies that cover the issues on open trade, investment, progress on public governance, integrity, anti-corruption, and protection of the environment.
After the studies, the 38 members of the organization must agree on unanimity for the candidate to enter the OECD. It is the Council that structures charge of the validation of the candidate membership.
This outcome is due to the good economic performance of Brazil. Indeed, measures such as vaccinations help the country control itself during the pandemic.
The OECD: An Overview
The Organization for Economic Cooperation and Development or OECD is an international organization that focuses on building better policies for better lives. The specific goal is to shape policies that enhance the values of prosperity, equality, opportunity, and well-being for everyone.
The organization structure is divided into four principal parts. First, the committee is the structure that assesses data and policies that members states have elaborated.
Secondly, the Council is the decision-making body of the organization. Actually, the Council is where the heads of government, economy, trade, and Foreign Ministers of members states interact.
Thirdly, the Secretariat is the structure that works with policymakers and shapers in each country. The Secretariat, helps them guide their policies. For instance, it works closely with the committees. Finally, the policy shapers and makers are the member state representatives to the organization.
The members of OECD are in total 38, and among them are many developed countries. For instance, France, Australia, the United Kingdom, South Korea, Australia, and many more. All of the OECD members have in common is their policies on free trade that help them collaborate.
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