What is OECD?
OECD, or Organization for Economic Co-operation and Development, is an intergovernmental economic organization or ‘club’ with 36 member countries. The organization was founded in 1961 to stimulate economic progress and world trade.
The organization started as OEEC in 1948 and only included European countries. However, after the United States and Canada joined the organization in the 1960s, the organization changed its name to OECD.
Now, the OECD is one of the world’s unique forums, where the governments of 34 democratic countries with market economies work together, and with over 70 non-member economies, in efforts to promote economic growth, prosperity, as well as sustainable development.
Additionally, the OECD works to establish international norms, to find evidence-based solutions to a range of social, economic, and environmental challenges. From improving economic performance and creating jobs to fostering strong education and fighting international tax evasion, the OECD is an organization which provides a unique forum and knowledge hub for data and analytics, in exchange of experience, best-practice sharing, and advice on public policies and standard-setting globally.
Current members of OECD are: