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As of Today Estonia is Full Member of OECD

09.12.2010

No. 387-E

As of today Estonia is officially a full member of the Organisation for Economic Co-operation and Development (OECD). Estonia became a full member of the organisation after Estonian Ambassador to France Sven Jürgenson presented Estonia’s accession treaty to the French Foreign Ministry for storage.

Foreign Minister Urmas Paet stated that Estonia’s successful path towards OECD accession has come to an end. “Accession to the OECD confirms the success of Estonia’s economic policy and the stability of it economic environment, and also increases our trustworthiness and attractiveness as a target for investments,” stated Foreign Minister Paet. “We will be able to celebrate the OECD’s 50th anniversary as a full-fledged member,” he added.

The OECD, which has the goal of supporting global economic development and expanding world trade, will offer good opportunities to Estonia for further development. “In addition, Estonia being invited and accepted as an OECD member is recognition of our society,” said Paet.

Estonia will also be opening a representation to the OECD at its headquarters in Paris.

Estonia expressed interest in joining the OECD as early as 1996. In 2007 Estonia was invited to accession negotiations, which ended in the spring of 2010 when Estonia signed the accession treaty with the OECD. On 14 November the Riigikogu approved the necessary documents for accession, namely the Organisation for Economic Co-operation and Development’s convention of 14 December 1960, the agreement between the Government of the Republic of Estonia and the OECD on the rights, immunity and concessions given to the organisation, and the agreement on the conditions of the Republic of Estonia acceding to the Organisation for Economic Co-operation and Development’s convention.

Photo: http://www.flickr.com/photos/estonian-foreign-ministry/5246335040/

Additional information on the OECD: www.oecd.org
OECD reports and statistics on Estonia: www.oecd.org/estonia

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