Costa Rica Becomes the First Central American Country to be Admitted as Member of the Organization for Economic Cooperation and Development

The announcement was recently made by the President of the Costa Rican nation, Carlos Alvarado, who stated that the nation has been officially invited to be member 38 of the Organization for Economic Cooperation and Development (OECD). An international forum for coordinating economic and social policies. With this official invitation, our country is the first in Central America to become a member of this organization and the fourth in Latin America.

Through his twitter account, the Costa Rican President declared: “The OECD Secretary-General, Ángel Gurría, gave me great news: Costa Rica has been invited to be member 38, the 4th Latin country to enter! I greatly appreciate the inter-institutional work! “.

“We are delighted to welcome Costa Rica into the great OECD family at a time when multilateralism is more important than ever.” This was expressed by Ángel Gurría, Secretary-General of the organization, through an official statement.

5 years of negotiations

It was informed that this achievement for the Tico nation was fulfilled after a process of five years of negotiations and the adoption of legislative reforms that allowed the approval of the 22 OECD committees contemplated in the accession road map, indicating the Presidency in a statement.

“Today we celebrate that we can demonstrate to the world that our country is committed to the highest and most demanding international standards, that we can work together to transform our country,” said Alvarado.

“This stage constituted a rigorous evaluation process that resulted in a set of recommendations and a robust agenda of reforms and measures that the Costa Rican state has been implementing in recent years,” the Costa Rican government said in a statement.

For her part, the United States ambassador to Costa Rica Sharon Day commented through her twitter account: “My most sincere congratulations to Costa Rica and to President Carlos Alvarado, Minister Dyalá Jiménez and the teams, to the members of the Costa Rican Legislative Assembly Rica and the previous administrations that also made this achievement possible, joining the OECD is, without a doubt, a vital advance for the sustainable economic and social development of this brother country.”

What is the Organization for Economic Cooperation and Development (OECD)?

The Organization for Economic Cooperation and Development (OECD) is dedicated to promoting policies for economic and social well-being. Its member countries move 60% of world trade and 80% of global GDP and were founded in 1961. This organization is also known as an exclusive club that brings together the most developed countries in the world.

As a member of the OECD, Costa Rica will be able to participate in the more than 300 OECD committees and working groups to decide and influence the development of innovative solutions for common challenges, such as the present COVID-19 crisis. Also, the search for solutions to many of today’s social, environmental, and economic challenges, as well as the development of public policy standards in diverse fields like education and the fight against tax evasion.

The Accession Agreement of Costa Rica to the OECD Convention must be signed in the coming weeks and must be ratified by the Legislature to enter into full force. It is worth mentioning that the other three Latin American countries that are members of this organization are: Mexico in 1994, Chile in 2010 and Colombia, whose admission was announced on April 28th.

Without a doubt, this invitation to be a member of the Organization for Economic Cooperation and Development is a great achievement for all Costa Ricans and will bring great benefits to the country.

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SOURCEArgelis Desiree Torrealba
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