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The State of Israel Joins the OECD
Last Modified at:12-May-2010
The State of Israel Joins the OECD The OECD chose Israel as a full member in the organization. The decision was made unanimously by all 31 members.

The Organization for Economic Co-operation and Development (OECD) is an international organization of countries with developed economies. OECD's mission is to promote co-operation between its members while keeping high international economic standards. Israel is the 32nd country to join the organization, along with Estonia and Slovenia.

Israel's accession is a result of years of negotiations with OECD executives. In June 2009 a specified program for Israel's accession was approved and enhanced by the OECD Secretary-General, Angel Gurría, and his chief staff. 18 teams from the Israeli government ministries were in charge of performing the professional examinations in various working fields, with OECD committees' experts.

Implications derived from Israel's accession to the OECD:

1. International recognition of Israel's high quality government policy regarding regulation, corruption and property rights protection.

2. Attraction of foreign investors who rely on the OECD's seal of approval.

3. OECD members are likely to have a positive influence on Israel's credit rating, which may reduce the costs of Israel's debt recruitment.

4. Meeting OECD standards will serve Israel in different activities in the international markets, turning it into a full partner in the establishment of new international standards.

5. Israel will adopt a methodology of collecting data and performing statistical analysis as a tool for international comparisons and for taking political decisions.

6. Help in establishing internal economic reforms by comparative learning of the 'Best Practices' of member countries in the organization. In addition, it will allow for the analysis of social needs and establishing ways to minimize inequality and social gaps.

7. Israel will implement enviornmental protection reforms, targeted at bridging gaps in environmental quality improvement and prevention of soil, water, air and sea pollution. This, in turn, will improve its citizens' health and life quality.

 Press release by the Ministry of Finance spokesperson
 Accession: Estonia, Israel and Slovenia invited to join OECD
 Israel invited to join OECD; FM Liberman welcomes decision

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