The OECD Adds Colombia as Its 37th Member

Colombia flagThe Organization for Economic Co-operation and Development (OECD) has recently accepted Colombia as a member country.

The OECD is an intergovernmental economic organization with 37 member countries. This Paris-based forum of countries, committed to democracy and the market economy, was founded in 1961 with the goal of stimulating economic progress and world trade.

Colombia is only the third member country admitted from the Latin America and Caribbean region, the others being Chile and Mexico. It was formally invited to join the OECD in May 2018. During a 5-year application process, Columbia introduced major reforms to its legislation and policies in order to meet OECD standards.

As posted on the OECD website, "Colombia has valued the opportunity to discuss major policy issues and challenges in a multilateral context and to learn from the experiences of OECD countries facing similar challenges in many areas. In turn, this dialogue has enriched the OECD’s knowledge and policy advice, and benefited OECD members and non-OECD countries by enabling them to acquire a better understanding of Colombia."

The organization states that it will "continue to support Colombia as a new member in order to further deliver on our joint quest to make OECD standards and policies count on a global scale which is today more important than ever."

At Seterra, we keep an eye on OECD membership. There's a map quiz that challenges you to identify all 37 of the OECD member countries, including its newest member, Columbia.