OECD Membership Ratified in Lithuanian Parliament
- New Europe Investor
- October 21, 2015
The process for Lithuania in joining the Organisation for Economic Co-operation and Development (OECD) took another step forward yesterday, when parliament ratified some required measures.
The agreement grants the organisation privileges, immunities and exemptions in Lithuania and brings the country one step closer to membership.
On 8th July 2015, according to the OECD website, 34 OECD Members adopted the Roadmap for the Accession of Lithuania to the OECD Convention, setting out the terms, conditions and processes for its accession. This follows the decision taken by the OECD Council on 9 April 2015 to open accession discussions with Lithuania.
OECD Secretary-General Angel Gurría said: “This roadmap charts the way for Lithuania to get closer to the OECD, and underlines our Organisation’s commitment to broaden its reach and its position as a global standard setter. The accession process that Lithuania will go through is a transformational opportunity which will already begin to improve the lives of their people and will serve as a catalyst for reform. I am sure that our member countries will also learn a lot from Lithuania’s experience and best practices.”
In 1996, the three Baltic states of Latvia, Lithuania and Estonia expressed willingness to join the OECD.
Whilst Estonia joined in 2010, it was not until 2013 that talks opened with Latvia and this year with Lithuania. Presently, the two countries are only two of seven European Union members not in the organisation.
The OECD presently comprises of 34 countries in total. Founded in 1961, its members co-operate with each other on economic, environmental and social policy issues in order to address global challenges.