OECD considers membership for Argentina, Brazil and Peru

The organisation made the announcement on January 25, 2022, but notes that there is no timeline for accession. It notes that “OECD accession is a multi-year process encompassing a rigorous and in-depth evaluation by more than 20 substantive committees of the willingness and ability of candidate countries to implement all OECD legal instruments as well as an assessment of a candidate country’s policies and practices compared to OECD best policies and practices.”

Further, it says that the technical reviews the countries will undergo as part of the process may require them to make changes to legislation, policy and practices to bring them into line with OECD legal instruments and best practices.

Each country will be subject to accession roadmaps as prepared by the Secretary General of the OECD and will have to report back on their progress in various policy areas. Areas of evaluation will include the countries’ reform agendas for growth, how they are reinforcing their investment regimes and “how to strengthen public governance, integrity and anti-corruption efforts”.

Once the technical committees have concluded their evaluations and Argentina, Brazil and Peru have demonstrated capacity and timelines to align with OECD standards and practices, a final decision will be taken on membership by the OECD Council.

Sources

• OECD
• OECD (Council Resolution, PDF)
• Buenos Aires Times