Azerbaijan, Baku, May 11 / Trend U.Sadikhova /
OECD Secretary-General Angel Gurria announced on Monday that the Organization's Governing Council, representing member economies, chose Israel as a full member in the OECD. The decision was made unanimously by all 31 members, the Israeli Finance Ministry reported.
"Israel's accession to this prestigious organization is possible due to a responsible and balanced economic policy, led by Israeli governments of past decades," Israeli Finance Minister Yuval Steinitz said. He commented on the country's accession. This policy included the reduction of Israel's debt, monitoring of fiscal policy and the development of capital markets."
Israel will be required to continue to demonstrate its economic strength and stability, and from today, also meet mandatory rules and standards, he added.
OECD established in 1948 is an international organization, uniting all countries with developed economies.
The latest round of negotiations between Israel and the OECD took place in June 2009 in Paris, where the organization's headquarters is located
Implications derived from Israel's accession to the OECD: International recognition of the quality of the Israeli governmental policy regarding regulation, corruption and property rights protection: attraction of foreign investors who rely on the "quality stamp" provided by the OECD. Israel will implement reforms in the area of environmental protection. These reforms, dedicated to bridging gaps in the improvement of environmental quality and prevention of pollution of soil, water, air and sea, will improve the quality of life and the health of the citizens.
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