Brazil Initiates Process to Join the OECD
The government presented to the Secretary General of Organization for Economic Cooperation and Development (OECD) a request to kick-start the process of Brazil’s accession. The new member request comes as a result of the work done under the Brazil-OECD Cooperation Agreement signed in 2015. It will now be analyzed by the OECD Council.
Headquartered in Paris, the OECD has 35 members and brings together some of the world's leading economies, but only two countries in Latin America make up the organization: Mexico and Chile. The letter sent by Brazil is only the first step in the accession process, which is still made up of internal discussions and preparation according to terms that the candidate needs to comply with.
Brazil's accession to the OECD gained momentum with the start of President Michel Temer's government. The entry of Brazil to the "club" of the main countries of the world is seen, for example, as a way to increase the confidence of foreign investors in Brazil.
In a note, the Brazilian government reported that the country has been participating in OECD activities since 1994. Brazil's interaction with the OECD and the country's approach is part of a broader Brazilian government strategy to consolidate the paths towards inclusive and sustainable development.