OECD Approves Costa Rica’s Application to Join

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Costa Rica will become the 38th member state of the Organization for Economic Cooperation and Development (OECD); the formal accession agreement will be signed in the upcoming days.

“We are delighted to welcome Costa Rica to the OECD family at a time when multilateralism is more important than ever,” the group’s secretary-general, Angel Gurria, said in a statement.
Costa Rica will be the first Central American country in the OECD and the fourth Latin American country after Colombia, Mexico and Chile.

The OECD is an international organization that promotes policies to improve the economic and social well-being of people worldwide. It provides a forum in which governments can work together to share experiences and seek solutions to the economic, social and governance challenges they face.

As part of the process, Costa Rica successfully completed in-depth technical reviews by 22 OECD Committees and “has carried out important reforms that have allowed the country to align its legislation, policies and practices to OECD standards in areas such as competition, statistics, anti-bribery, corporate governance of state-owned enterprises, financial markets, tax transparency and industrial chemicals management”.

“OECD membership has been a personal objective of the President and his government. We have been encouraged to see real cross-party commitment to the process and impressed by the engagement and reactivity of the Legislative Assembly, which enacted over a dozen laws including a comprehensive reform of competition policy and enforcement and fundamental reform of the national statistics system, as a direct result of OECD recommendations,” Mr Gurría added.

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