The Organization for Economic Cooperation and Development (OECD) said last Tuesday that Israel had become the first Middle Eastern state to join its anti-bribery convention

Israel committed itself to adopting the accepted legal foundations for group members regarding policy, legislation and implementation

Bar-On met with the heads of the OECD membership steering committee and received a briefing on the progress to date in the membership process

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 OECD defines its mission as being to help make the world economy work effectively and efficiently. The organization currently has 30 members

The Organization for Economic Cooperation and Development (OECD) invited last Wednesday Israel, along with Russia, Estonia, Slovenia and Chile to join the Organization

The report also shows that trade with the 15 old EU members was up by 34% from US$16.8 billion in 2003 to US$22.6 billion in 2006

Israel is ranked in 20th place for economic strength. It has climbed 20 places from 45th to 25th in the ratings for international investment