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October 27, 2021
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November 10, 2021
The Organisation for Economic Co-operation and Development (OECD) is an international organization whose mission is to design better policies for a better life. The OECD was created in 1960 with headquarters in Paris to provide continuity and consolidate the work done by the former Organization for European Economic Cooperation (OEEC), which had been set up to implement the Marshall Plan, a support offered by the United States for European recovery after World War II.
Currently, the OECD has 38 member countries, these are:
Germany, Australia, Austria, Belgium, Canada, Chile, Colombia, Republic of Korea, Costa Rica, Denmark, Estonia, Finland, France, Greece, Hungary, Iceland, Ireland, Israel, Italy, Japan, Latvia, Lithuania, Luxembourg, Slovenia, Spain, United States, Mexico, Norway, New Zealand, Netherlands, Poland, Portugal, United Kingdom, Czech Republic, Slovak Republic, Sweden, Switzerland and Turkey.
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The main objectives of the OECD
- To achieve the maximum possible expansion of the economy and employment and to increase the living standards of the member countries, while maintaining financial stability and contributing to the development of the world economy.
- Contribute to the healthy economic expansion of member countries and developing non-member countries.
- Contribute to the expansion of world trade on a multilateral and non-discriminatory basis in accordance with international obligations.
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Topics on which the OECD is working
Agriculture and fisheries, chemical safety and biosafety, competition, corporate governance, corruption and integrity, digital development, economy, education, employment, environment, finance, green growth and sustainable development, health, industry and entrepreneurship, innovation, insurance and pensions, investment, migration, public governance, regulatory reform, science and technology, skills, social welfare issues, taxation and trade.
The OECD cooperates with governments, policy makers and citizens, and works to set international standards and propose evidence-based solutions to various social, economic and environmental challenges.
The Organization's robustness makes it one of the leading global databases. It publishes up to 500 books a year, working papers and statistical sources.
There are certain issues in which the OECD plays a unique role in international standardization, one of which is the fight against tax evasion.
As a result, the OECD advises governments on public policy and on setting global standards and norms for improved economic performance, job creation, promoting effective education and combating international tax evasion..
¿How does the OECD work?
OECD Council
The member states are represented by ambassadors who sit on the OECD Council. This body supervises and makes recommendations regarding the work of the Organization. It meets once a year to make decisions by consensus.
The European Commission participates in the work of the OECD. However, it has no voting rights and cannot officially take part in the adoption of standards submitted to the Council.
Committees
The OECD has more than 300 committees, working groups and expert groups composed of member states and observer countries. The committees specialize in areas to propose and implement work proposed by the Secretariat.
Some examples are:
- Economic Policy Committee: responsible for studying the macroeconomic situation and short-term perspectives and risks.
- Economic and Economic Policy Examination Committee: conducts economic studies on each of its countries.
- Insurance and Private Pensions Committee: deals with the improvement of insurance and pension systems in order to combat the challenges of aging.
- Financial Markets Committee: seeks to improve the efficiency, openness and stability of financial systems through the study of financial policies.
- Corporate Governance Committee: focuses on the evaluation of corporate governance policies and good corporate practices.
- Competition Committee: seeks to increase growth, employment and make economies more flexible and innovative.
- Statistics Committee: supervises statistics and creates standards for data exchange between the OECD and countries.
- Tax Affairs Committee: in charge of combating BEPS, corporate strategies to aggressively reduce tax burdens.
Secretariat
Its headquarters are in Paris. It is headed by the General Secretary and a number of Vice-General Secretaries. It is composed of 2,500 employees. Its main purpose is to analyze and propose.
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