The government announced on Friday that the Secretary General of the Organization for Economic Cooperation and Development, Mathias Cormann, will pay a visit to Bucharest on March 12-13. According to the Executive, on this occasion the Economic Study for Romania will also be launched.
Government: As a member of the OECD, Romania will have access to new opportunities Photo: Archive
“The visit that the general secretary of the Organization, Mathias Cormann, will make to Bucharest between March 12-13, on the occasion of which the Economic Study for Romania will be launched, is the recognition of the concrete progress made.
As a member of the OECD, Romania will have access to new opportunities to attract foreign investments, to stimulate innovation and competitiveness and to top expertise in many fields of activity“, the Executive sent on Friday, according to Agerpres.
Moreover, as reported on Thursday by Adevărul, the OECD approved, during this week, the first Formal Opinion, as a result of Romania's assessment within the Committee of Senior Budget Officials, informs the Ministry of Finance.
“Important steps in Romania's preparation for joining the Organization for Economic Cooperation and Development, an essential forum for global production and trade and foreign direct investment worldwide. The Government of Romania received the first Formal Notice in the OECD accession process within the OECD Committee of Senior Officials for the Budget. This decision reflects Romania's commitment to align itself with OECD policies and practices in the field of budgetary governance“, stated the Government, in a post on Facebook
The executive emphasized that according to Romania's Roadmap to the OECD, the Committee of Senior Officials for the Budget is among the 26 sectoral Committees that evaluate the degree of alignment of national policies and practices with those of the OECD.
“Concretely, through the exchange of best practices in the field of budget governance, the Committee of Senior Budget Officials contributes to fiscal sustainability and the proper allocation of budget resources by promoting an integrated approach at the level of the entire administration“, added the quoted source.
The government mentioned that another important file in the OECD accession process concerns corporate governance. And in a debate organized by the Romanian Government with the participation of OECD experts on the topic “Improving the procedural framework for implementing the principles of corporate governance within state enterprises“, the Romanian authorities “highlighted the relevance regarding the responsibility of the selection process in the boards of directors of public enterprises, both at the central and local level”, the cited source also shows.
The OECD is an intergovernmental forum, based in Paris, France, which aims to identify, disseminate and evaluate the application of optimal public policies to ensure economic growth, prosperity and sustainable development among member states, as well as globally. The OECD is the successor to the former Organization for European Economic Cooperation (OECE), founded in 1948 to implement the US-funded Marshall Plan for the reconstruction of the European continent after the Second World War. The convention that established the transformation of the OEEC into the OECD was signed on 14 December 1960 in Paris and entered into force on 30 September 1961.
The 38 members of the OECD are developed countries, holding approx. 70% of global production and trade and 90% of the world level of foreign direct investment.
However, the process that Bucharest is going through is a difficult one. Romania submitted its application to be admitted to the OECD 20 years ago. It took two decades so that exactly two years ago, on January 25, 2022, the OECD gave the green light for the opening of accession negotiations with Romania. Throughout the accession process, Romania is evaluated by no less than 26 committees.
