MercoPress. South Atlantic News Agency

OECD to evaluate Argentina, Brazil and Peru as potential members

“It is an opportunity that we cannot miss,” former President Macri said regarding Argentina's candidacy to the OECD.

The Council of the Organization for Economic Cooperation and Development (OECD) has decided to discuss the admission into the group of Argentina, Brazil, and Peru, it was announced Tuesday.

An OECD statement pointed out that access will be granted “provided these countries confirm their adherence to the values, vision and priorities reflected in the OECD 60th Anniversary Vision Statement and the Ministerial Council Declaration adopted last year.”

The evaluation process is carried out by more than 20 technical committees in charge of overseeing that candidate countries comply with the organization's guidelines. “As a result of these technical reviews, and prior to any invitation to join the organization as a member, changes in the legislation, policies and practices of candidate countries will be required to bring them in line with OECD standards and best practices, serving as well as a powerful catalyst for reforms,” the OECD board explained.

OECD “values” include the “preservation of individual liberty, the values of democracy, the rule of law and the protection of human rights, and the value of open, commercial, competitive, sustainable and transparent market economies, and care for the environment.”

Back in March 2019, the OECD had said Argentina needed “more reforms, with the aim of restoring confidence, creating stronger macroeconomic fundamentals, generating employment and ensuring that growth is more sustainable and benefits all Argentines.”

In 2016, under former President Mauricio Macri, Argentina sent a formal letter to the OECD stating its interest to join the organization. “I am pleased that the work of our government has culminated in the decision of the OECD to open the accession process for our country,” Macri said Tuesday on Twitter.

“It is an opportunity that we cannot miss. It must be part of a State commitment for the entire political leadership,” he added.