Argentina has submitted an initial memorandum to formalise its membership application of the Organisation for Economic Co-operation and Development (OECD), the international body announced on Tuesday.
OECD officials described the filing as a “decisive step” in the country’s accession process.
During a visit by OECD Secretary-General Mathias Cormann to Buenos Aires, Foreign Minister Pablo Quirno presented Argentina’s initial memorandum, “marking an important step towards accession,” the organisation said in a statement.
Argentina first expressed its intention to join the OECD in 2016, under the Mauricio Macri Presidency. Six years later, the organisation has formally opened discussions with Argentina, as well as with Brazil, Peru, Bulgaria, Croatia and Romania.
In May 2024, Argentina received a roadmap it must follow to join the organisation, which brings together the world’s major economies with democratic systems.
Initially, Argentina had committed to submitting the initial memorandum by the end of 2024. The submission of this document – a preliminary self-assessment by Argentina on the alignment of its legislation, policies, and practices with OECD standards – now marks the beginning of the “technical phase.”
In line with the formal OECD accession process, adopted by the organisation’s 38 member countries, a dialogue will now begin with 25 expert committees covering a wide range of public policy areas.
In August 2024, Cormann explained that this technical review process could take several years.
“The OECD accession process complements Argentina’s ambitious economic reform agenda, helping to strengthen the foundations for medium- and long-term growth,” said Cormann, as quoted in the statement.
This “will reinforce international confidence in Argentina’s policy direction, support stronger and more sustainable growth, and promote higher incomes and living standards, while deepening the OECD’s cooperation with a major G20 economy,” he added.
– TIMES/AFP
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