The OECD had formally started talks with five prospective members. The entry of Israel into the OECD will be a historical turning point for the Israeli economy
The Organization for Economic Cooperation and Development (OECD) announced last Monday that it had formally started talks with five prospective members to help them confront the challenges and opportunities posed by globalization. The five countries are Chile, Estonia, Israel, Russia and Slovenia.
The OECD said in a statement that the so-called "road maps" setting a negotiating framework for the five countries had been approved, marking the formal launch of the negotiation progress.
The accession process will include the following examinations:
· Israel's commitment to fundamental values such as pluralist democracy based on the rule of law and respect of human rights, adherence to open and transparent market economy principles and a shared goal of sustainable development.
· Israel's position vis-a-vis all the legal substantive instruments adopted within the OECD framework prior to its joining the Organisation.
· Israel's general economic policies as well as its policies in a certain number of other key areas such as: Investment, Bribery in International Business Transactions, Fiscal Affairs, Environment Policy, Corporate Governance, Financial Markets, Insurance, Competition, Scientific and Technological Policy, Information, Computer and Communication Policy, Consumer Policy, etc.
In a statement issued by Israel's finance minister, it was noted that the entry of Israel into the OECD will be a historical turning point for the Israeli economy. He added that his ministry regard the negotiation process as highly important and would do its utmost to speed negotiations.
