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.

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

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

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

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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.

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

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

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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.

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

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

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

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

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

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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.

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

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

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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.

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

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

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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.

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

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