22 Facts About OECD

The majority of OECD members are high-income economies with a very high Human Development Index and are regarded as developed countries.

OECD's headquarters are at the Chateau de la Muette in Paris, France.

OECD is recognised as a highly influential publisher of mostly economic data through publications as well as annual evaluations and rankings of member countries.

OECD created agencies such as the OECD Development Centre, International Energy Agency, and Financial Action Task Force on Money Laundering.

In 1989, after the Revolutions of 1989, the OECD started to assist countries in Central Europe to prepare market economy reforms.

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OECD established a working group headed by ambassador Seiichiro Noboru to work out a plan for the enlargement with non-members.

In March 2014, the OECD halted membership talks with Russia in response to its role in the 2014 Annexation of Crimea.

In 2013, the OECD decided to open membership talks with Colombia and Latvia.

On 15 May 2020, the OECD decided to extend a formal invitation for Costa Rica to join the OECD, and it joined as a member on 25 May 2021.

In January 2022, the OECD reported that it had begun talks aiming toward joining Argentina, Brazil, Bulgaria, Croatia, Peru and Romania.

In March 2022, the OECD suspended the participation of Russia and Belarus due to the ongoing 2022 Russian invasion of Ukraine.

OECD publishes and updates a model tax convention that serves as a template for allocating taxation rights between countries.

Additionally, the OECD has published and updated the Transfer Pricing Guidelines since 1995.

OECD publishes books, reports, statistics, working papers, and reference materials.

The magazine appeared six times a year until 2010, and became quarterly in 2011 with the introduction of the OECD Yearbook, launched for the 50th anniversary of the organisation.

OECD is known as a statistical agency, as it publishes comparable statistics on numerous subjects.

In other words, the OECD is more a persistent forum or network of officials and experts than an administration.

OECD regularly holds minister-level meetings and forums as platforms for a discussion on a broad spectrum of thematic issues relevant to the OECD charter, member countries, and non-member countries.

OECD decisions are made through voting, which requires unanimity among all of those voting.

In May 2007, the OECD decided to open accession negotiations with Russia.

In March 2014, the OECD halted membership talks in response to Russia's role in that year's Crimean Annexation and continuous human and civil rights abuses.

On 25 February 2022, the OECD terminated the accession process with Russia after it invaded Ukraine.