Chile invited to join OECD

The OECD today invited Chile to become its second member in Latin America after Mexico. Chile will formally accept this invitation when an Accession Agreement is signed in the presence of Secretary-General Angel Gurría and President Michelle Bachelet on 11 January 2010 in Santiago.

Chile will become the OECD’s 31st member, as the organisation seeks to expand its relations with Latin America. The move is, in part, an acknowledgement of Chile’s efforts to develop its market-based economy, as well as instigating reforms in corporate governance, anti-corruption, and environmental protection. Chile was one of five countries invited to begin accession talks in 2007. Since then, the country has been reviewed by about 20 OECD Committees with respect to OECD instruments, standards and benchmarks.

The other four countries invited to begin discussions were Estonia, Israel, the Russian Federation and Slovenia. The OECD has also broadened its reach to major emerging economies, including Brazil, China, India, Indonesia and South Africa.

“This new membership not only opens a new chapter in the enlargement of the Organisation. It also confirms our global vocation as “the club of countries that promote and foster best practices”,” said OECD Secretary-General Angel Gurría, quoting Chile’s President Bachelet.

From a summary of the OECD press release

Copyright The Financial Times Limited 2017. All rights reserved. You may share using our article tools. Please don't copy articles from FT.com and redistribute by email or post to the web.