At the annual OECD Ministerial Council meeting this week, Ministers from 38 OECD countries adopted Roadmaps for the accession of 5 applicant countries – Brazil, Bulgaria, Croatia, Peru and Romania. This action follows the political decision the OECD Council took in January to open accession discussions to further extend the Organization’s membership. In this regard, discussions continue with Argentina on possible next steps.
Each of the 5 OECD accession countries will now begin to engage in a tailored multi-year review process with OECD Committees, including in key areas such as tax, digital economy, trade and investment, regulatory policy and innovation, corporate and public governance, anti-bribery, education, employment and social affairs, and the environment and chemicals.
“The business community should leverage the accession process as an opportunity to strengthen multilateral cooperation based on a commitment to democracy, rule of law, good governance and the market economy” said Business at OECD Chair Rick Johnston. “It is also a key moment to implement necessary reforms to improve the overall business environment, ensuring that any potential new member fully lives up to the OECD standards and principles.”
Business at OECD looks forward to leading the global business community in providing comprehensive and constructive private sector input to this process. As OECD Committees will make recommendations for adjustments to legislation, policies or practices to bring the accession countries in line with OECD instruments and best practices, consultations with Business at OECD and our policy groups will be crucial to table practical challenges on the ground.
We look forward to working with our global network, including business organizations from accession countries to ensure business realities are considered this process. Stay tuned for our accession kick-off event in the coming weeks.