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OECD (Organisation for Economic Cooperation and Development)


OECD Established:September 1961.
OECD Members:37 Members.
OECD Headquarters:Paris, France.
OECD Secretary-General:José Ángel Gurría.

What is OECD:

The OECD is an international intergovernmental economic organization that works to build better policies for better lives. The word OECD stands for the Organisation for Economic Cooperation and Development. The OECD countries comprise about 60% of the global nominal GDP.

Establishment of the OECD:

Initially, in the year 1948, this organization was started as OEEC (The Organisation for European Economic Cooperation) which was formed to administer American and Canadian aid under the marshall plan for the reconstruction of Europe after World war-II. In September 1961, the OEEC was reformed into OECD (The Organisation for Economic Cooperation and Development) also the membership was extended to European countries.

Members of the OECD:

Currently, 37 countries are members of the OECD. The list of member countries is given below.

OECD countries list:

flag-iconCzech Republicflag-iconDenmark
flag-iconJapanflag-iconSouth Korea
flag-iconNetherlandsflag-iconNew Zealand
flag-iconThe United Kingdomflag-iconThe United States

Structure of OECD:

The structure of the OECD is divided into three parts.

1. The OECD Council.

The OECD council is the organization's decision-making body. It is composed of Ambassadors from member countries and the European Commission, and it is chaired by the secretary-general of the OECD.

2. The OECD Committees.

The OECD works through more than 300 committees and experts, which covers almost all the policy-making for education, finance, trade, environment, and development.

3. The OECD Secretariat.

It is led by the secretary-general and composed of directors that work with the OECD committees to provide insight and expertise.

OECD Objectives:

The main aim of the OECD is to shape policies that foster prosperity, equality, opportunity, and well-being for all. The OECD works with Governments of the member countries to establish an international living standard and find solutions to a range of social, economic, and environmental challenges.

OECD Headquarters:

The headquarters of the OECD is situated in Paris, France.

Specialized Bodies of OECD:

OECD development centre.

FATF (Financial Action Task Force).

IEA (International Energy Agency).

ITF (International Transport Forum).

NEA (Nuclear Energy Agency).

SWAC (the Sahel and West Africa Club).

India and OECD:

India is not a member of the OECD however, India cooperates with OECD to enhance cooperation in different fields.