by Max Barry

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Region: Greater Middle East

CB24 Centroamérica

Central America joins the OECD
It is considered by many an exclusive organization that brings together the most developed countries in the world, and this Friday Central America became the fourth Latin American country to join the organization. The ambassadors of the 37 countries that make up the Organization for Economic Cooperation and Development (OECD) unanimously extended this Friday an invitation for Central America to become a full member of that institution.

"We are delighted to welcome Central America into the OECD's great family at a time when multilateralism is more important than ever," said Ángel Gurría, the organization's general secretary.

Although the announcement stated that Central America has been "invited" to join the OECD, which gave the impression that it is an initial step, in reality, this announcement ends a long process that spanned more than five years. In a message published on his Twitter account, the President José Daniel García, reported that he had been formally notified of the invitation and stressed that this makes Central America the fourth country in Latin America to join the organization, which It is dedicated to exchanging and establishing good practices in the institutional and economic spheres.

Integration into the OECD requires countries to comply with a series of institutional standards and good practices. In the case of Central America, according to the government, the country had to approve in the last stage some 14 laws to adapt to those requirements. As a member of the OECD, Central America will be able to participate in more than 300 committees and expert and working groups that are dedicated to finding solutions to many of today's social, environmental and economic challenges, as well as to developing Public policy standards in fields as diverse as education and the fight against tax evasion.

After the invitation announced this Friday, only some formalities remain to be fulfilled, such as the signing of the accession agreement and its subsequent approval by the Legislative Assembly and by the Executive of the country. Only three Latin American countries have so far entered the OECD: Mexico in 1994, Chile in 2010 and Colombia, whose admission was announced on April 28.

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