Global General

Israel, Estonia and Slovenia join OECD

(Xinhua)
Updated: 2010-05-10 20:44

PARIS - The Paris-based Organization of Economic Cooperation and Development (OECD) announced Monday that it agreed to embrace Israel, Estonia and Slovenia as new members, which expanded the organization to a 34-member bloc.

"Estonia, Israel and Slovenia, along with Chile that has just deposited its instrument to become a full member, will contribute to a more plural and open OECD that is playing an increasingly important role in the global economic architecture," OECD Secretary-General Angel Gurria said in a statement.

After 18 OECD Committees reviewed the economy situation of the three states and their compliance with OECD standards and benchmarks, they were accepted to the organization in the wake of Chile, which got the membership early this year.

The accession negotiation concerning the potential 35th member Russia, which was invited to open accession talks in 2007 along with the above four, is still undertaking.

"In parallel, the OECD is strengthening its growing partnership with major emerging economies, including Brazil, China, India, Indonesia and South Africa," the statement added.

In OECD's expansion blueprint, the organization said, by expanding its membership to less-developed nations, it could better address the challenges of globalization and play a more prominent role in world's economic affairs.

Established in 1961, the OECD groups the world's leading industrialized nations.