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Chile invited to join OECD

Written by thomas · Filed Under Commercial 

December 18, 2009

thomas

Chile was invited earlier this week to become the 31st member of the Organization for Economic Cooperation and Development (OECD), only the second country in Latin America to receive the invitation. An accession agreement is to be signed in Santiago on January 11. The country has been in negotiations to join the organization for two years according to the OECD. Mexico is currently the only Latin American member of the organization. The offer came in recognition of Chile’s efforts to to develop a market-based economy. According to the OECD the accession of Chile is a great contribution to its drive to expand global reach and to transform the organization into a more plural and inclusive institution that will play an increasingly important role in the global economic architecture. The OECD – also known as the club of developed countries was founded in 1961. Chile’s Finance Minister, Andres Velasco said: “the invitation is an acknowledgement of the successful policies Chile has been implementing during the last two decades.”

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