Monday, March 20, 2023

Colombia Becomes 37th Member of OECD

The OECD said Colombia had undertaken "major reforms to align its legislation, policies and practices to OECD standards." These reforms addressed labor issues, the justice system, corporate governance, anti-bribery and trade.

(QCOLOMBIA) On 28 April 2020, Colombia officially became an OECD Member, the 37th country to do so in the Organization’s near 60-year history.

November 2018 – Iván Duque, President of Colombia (left) and Angel Gurría, Secretary-General of the OECD.

Colombia was the third Latin American country to be a Member of the OCED. Chile and Mexico became a member in 2010 and 1994, respectively; on May 15, Costa Rica was the fouth.

In a statement the foreign ministry of Colombia said: “From this Tuesday (April 28) Colombia is a full member of this organization that boosts good practices and generates technical recommendations in different fields of public policies that impact on cooperation, development, growth and welfare in the countries.”

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A statement on the organization’s website said: “Colombia has valued the opportunity to discuss major policy issues and challenges in a multilateral context and to learn from the experiences of OECD countries facing similar challenges in many areas. In turn, this dialogue has enriched the OECD’s knowledge and policy advice, and benefited OECD Members and non-OECD countries by enabling them to acquire a better understanding of Colombia.”

The OECD is an international organization founded in 1961 whose purpose is to promote policies for social and economic well-being.

The full list of OECD member states now includes Austria, Australia, Belgium, Canada, Chile, Colombia, Costa Rica, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Iceland, Ireland, Israel, Italy, Japan, Korea, Latvia, Lithuania, Luxembourg, Mexico, the Netherlands, New Zealand, Norway, Poland, Portugal, Slovak Republic, Slovenia, Spain, Sweden, Switzerland, Turkey, the United Kingdom, and the United States.

This “club” of partner countries moves 60% of world trade, 80% of the planet’s gross domestic product and manages 75% of world foreign direct investment.

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Joining the OECD is a rigorous process not only having to pass the 22 tests but because the unanimous vote of all the members is required to accept a new member.

Colombia’s accession process that began in 2013

30 May 2018 – The Secretary-General and the President of Colombia, Juan Manuel Santos, signed the Agreement on the Terms of Accession of the Republic of Colombia to the Convention on the Organisation for Economic Co-operation and Development. Colombia will become a Member of the Organisation once it has taken the appropriate steps at the national level to accede to the OECD Convention and deposited its instrument of accession with the French government, depository of the OECD Convention.

25 May 2018 – The OECD issued an invitation to Colombia to become a Member of the Organisation. The invitation resulted from the OECD Council’s positive assessment of Colombia’s position with respect to OECD legal instruments, standards and benchmarks.

October 2013 – March 2018 – 23 OECD substantive committees and their subsidiary bodies conducted technical reviews of Colombia. These reviews assessed (i) the willingness and ability of Colombia to implement substantive OECD legal instruments; and (ii) Colombia’s policies and practices as compared to OECD best policies and practices, in what amounts to an in-depth review of the candidate country in the relevant review areas.

21 June 2014 – Colombia signed an Agreement on the Privileges and Immunities of the Organisation. The purpose of this agreement is to accord to the Organisation certain privileges and immunities to ensure its independence and proper functioning. The Privileges and Immunities Agreement, which is a sin equa non requirement for accession, has been ratified by the Colombian Congress and is currently under review by the Constitutional Court.

12 November 2018 – Iván Duque, President of the Republic of Colombia and Angel Gurría, Secretary-General of the OECD.

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17 March 2014 – Colombia took an important first step in the accession process by submitting an Initial Memorandum which set out the country’s position on approximately 250 OECD legal instruments in force and included an assessment of the conformity of Colombia’s legislation, policies and practices with the instrument.

24 October 2013 – The “kick-off” mission of the OECD Secretariat to Colombia took place, marking the launch of the technical accession discussions.

19 September 2013 – The OECD Council approved the Roadmap for the Accession of Colombia to the OECD Convention. An accession roadmap sets out the terms, conditions and process for OECD accession.

29 May 2013 – The OECD Council at Ministerial level decided to open accession discussions with Colombia.


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