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(May 20, 2010) Members of the Organisation for Economic Co-operation and Development (OECD) agreed on May 10, 2010, to invite Estonia, Israel, and Slovenia to join the global body. The special welcoming ceremony will take place at the annual meeting of the OECD ministerial-level council, scheduled to take place in Paris on May 27. According to an OECD press release, the membership invitation "acknowledges the efforts already made [by the three countries] to reform their economies, including in such areas as combating corruption, protecting intellectual property rights and ensuring high standards of corporate governance, while looking forward to further reforms." (Press Release, OECD, Accession: Estonia, Israel and Slovenia Invited to Join OECD (May 10, 2010), available at http://www.oecd.org/document/57/0,3343,en_2649_201185_45159737_1_1_1_1,0
0.html
.)

The press release also took note of the specific ways in which each of the prospective new members will contribute to the OECD: Estonia, as "an acknowledged world leader in innovative e-government and e-commerce initiatives"; Israel, by means of "scientific and technological policies [that] have produced outstanding outcomes on a world scale"; and Slovenia, as a leader "in making public sector information available to all." (Id.)

The OECD opened accession talks with the three countries, as well as with Chile and the Russian Federation, in 2007. (Id.) Chile became the 31st OECD member and the first South American one upon signing an accession agreement on January 11, 2010; it completed the final step in the accession process after signing the OECD Convention on May 7, 2010. (Chile Signs Up as First OECD Member in South America, Jan. 11, 2010, OECD website, available at http://www.oecd.org/document/26/0,3343,en_33873108_39418658_44365210_1_1
_1_1,00.html
; Chile's Accession to the OECD, May 7, 2010, OECD website, available at http://www.oecd.org/document/11/0,3343,en_33873108_39418658_45115147_1_1
_1_1,00.html
.) Talks with the Russian Federation are still in progress. The OECD is also "strengthening its growing partnership with major emerging economies, including Brazil, China, India, Indonesia and South Africa." (Accession: Estonia, Israel and Slovenia Invited to Join OECD, supra.)

Author: Wendy Zeldin More by this author
Topic: Foreign trade and international finance More on this topic
Jurisdiction: Organisation for Economic Cooperation and Development More about this jurisdiction

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Last updated: 05/20/2010