SAN JOSÉ – The Costa Rican Congress yesterday gave the go-ahead for the country’s entry into the Organisation for Economic Cooperation and Development (OECD), the final step in formalising its membership of the international forum.
The entry was approved by a majority, reported the legislative assembly, paving the way for the Central American country to become the 38th OECD member, and its fourth from Latin America along with Chile, Colombia and Mexico.
It is “a process that has involved an important reform of the state, and that will allow us to participate in the best international standards of public policy”, tweeted President Carlos Alvarado.
“Working with this organisation will continue to be a cornerstone for the sustainable and inclusive development of our country.”
Founded in 1961, OECD is dedicated to promoting policies for economic and social well-being. Its member countries, including the United States and France, move 60% of world trade and represent 80% of global gross domestic product.
Foreign Trade Minister Andres Valenciano said “being part of this select group of countries, we will be able to continue impacting the lives of all Costa Rican people”.
The country of 5.2 million formally expressed interest in joining OECD in 2012.
Before joining, it had to adjust multiple laws related to trade, health, agriculture, education, science and technology, and public governance.
After meeting all the requirements, it was finally invited to join in May last year, leaving yesterday’s parliamentary approval as the final hurdle. – AFP, May 18, 2021
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