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The OECD
The OECD
Explore how the OECD shapes market-based economies through its standards, recommendations and analysis that matter to the private sector.
About the OECD
Explore the OECD’s role and features
Why the OECD Matters
Find out how the OECD impacts business
OECD Enlargement
Discover the OECD Accession process
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OECD Enlargement
Becoming a member country of the OECD provides an important opportunity to enhance a country's international standing and raise the bar for economic and social governance. This can also have tangible benefits for the business community operating in and with these countries.
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Opening of accession discussions
The OECD Council can open accession discussions with any country wishing to become a member of the OECD, considering an assessment against an evidence-based Framework for the Consideration of Prospective Members amongst other factors. Upon taking a positive decision by consensus, it requests the OECD Secretary-General to offset out the terms, conditions and process for accession.
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Agreement of an accession roadmap
Following the decision to start accession discussions, the OECD Secretary-General prepares an Accession Roadmap, which is also approved by the OECD Council by consensus. The Accession Roadmap lists the OECD Committees conducting accession reviews, as well as the basis of their evaluation of the OECD's standards and best practices.
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Technical reviews by the OECD's Committees
The candidate country is required to submit its “Initial Memorandum”: an initial self-assessment against all the OECD's legal instruments. Following this, it undergoes a multi-year, in-depth technical review by the substantive OECD Committees listed in the Accession Roadmap. The OECD Secretariat prepares background reports to support the accession discussions of OECD Committees. At the end of their review, OECD Committees provide Formal Opinions to the OECD Council.
Assessments of other political criteria
In addition to the technical and procedural requirements of the Accession Roadmap, OECD Council members may decide to complement this with terms and conditions of a more political nature. The shared values, vision and priorities of the OECD are also a central element throughout the accession process.
Conclusion of the accession process
On the basis of the Formal Opinions of Committees, and the consideration of other relevant information, the OECD Council will decide by unanimity whether to invite a candidate to accede to the OECD Convention. It will also set out the terms and conditions of that invitation. Upon being invited, the country will need to complete the domestic steps necessary to deposit its Instrument of Accession to the OECD Convention. It becomes a Member on the date of such deposit.
GDP Growth: The OECD's member countries tend to enjoy a 2-3% higher GDP per capita growth over time compared to non-member nations, attributed to improved policies and reforms influenced by the OECD's guidelines and peer reviews.
Increased FDI Inflows: Membership to the OECD signals to investors that a country adheres to international standards of transparency, regulatory quality, and stability. Studies have shown that membership to the OECD can increase a country’s FDI inflows by up to 30% due to enhanced investor confidence. Trade Growth: Membership to the OECD is associated with a boost in trade volumes. The OECD's countries trade around 25% more with the OECD's other countries than with non-members, due to harmonised trade policies and regulatory standards.
Financial Regulation: Through frameworks like the OECD’s Common Reporting Standard (CRS), member countries standardise tax reporting and combat tax evasion. This alignment facilitates financial transactions and transparency, reducing regulatory burdens by up to 20% for financial institutions operating in the OECD's multiple jurisdictions. Digital Regulation: The OECD promotes the adoption of digital standards on data privacy, cybersecurity, and cross-border data flows, crucial for a digital economy. This regulatory harmonisation supports digital trade and services, creating efficiency and reducing data management costs across borders. Chemicals Safety and Management: The OECD’s work on chemicals reduces duplication of testing and compliance efforts among member countries. By using the OECD’s Mutual Acceptance of Data (MAD) system, member countries accept safety data generated in the OECD's other countries, which cuts costs for the chemical industry in this area by an estimated 30% and speeds up market access for safe chemicals.
Public Sector Efficiency: The OECD's member countries tend to see improvements in governance efficiency, often measured by World Bank governance indicators. Member countries generally score 15-20% higher on governance quality compared to non-OECD countries. Transparency and Anti-Corruption: The OECD’s Anti-Bribery Convention and public sector transparency standards help reduce corruption. Membership can reduce corruption indicators by 10-20% over time (e.g., Corruption Perception Index scores) as countries align with the OECD's best practices. Efficiency Gains through Peer Reviews: The OECD's peer reviews help countries identify and implement best practices more quickly, leading to quantifiable improvements in policy efficiency. These reviews can accelerate reform processes by 10-15% compared to countries implementing policies without the OECD's oversight. The OECD also offers a vast repository of data, research, and policy tools.
Credit Ratings: Membership to the OECD is often associated with improved credit ratings by signaling stability and adherence to international standards. Membership can positively impact credit ratings, which can lower borrowing costs by up to 0.5% on sovereign debt. Access to Financial Markets: With better ratings, the OECD's members have improved access to international financial markets, allowing them to raise capital more efficiently. This can lead to increased investment in infrastructure, directly benefiting economic development.
Educational Improvements: Membership often spurs investment in education and alignment with the OECD's education standards, which correlates with improved educational outcomes. For example, the OECD's countries generally score 10-15% higher on PISA assessments (measuring educational performance) than non-member countries. Workforce Participation: the OECD's policies and guidance encourage overall labour market inclusiveness, including higher female workforce participation. This can increase labor force participation rates by up to 5%, contributing to higher productivity and economic growth.
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As the OECD’s institutional private sector stakeholder, Business at OECD serves as an informed, trusted, and collaborative focal point for business in the OECD accession process.
Working closely and constructively with our global business network, governments and the OECD Secretariat, we bring business priorities for reform in the OECD accession candidate countries to the table.
Aligning closely with the OECD process and recognizing the confidential nature of the accession process, we support business and collect on-the-ground issues and insights - and elevate them at the right time, at the right place.
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