Brazil’s accession to the OECD is important for economic recovery, according to CNI

RIO DE JANEIRO, BRAZIL – Highlighting the importance of the role played by the Organization for Economic Cooperation and Development (OECD) for global economic recovery, the National Confederation of Industry (CNI) reiterated the importance of Brazil’s joining the forum in a letter to the secretary-general of the organization.

For the CNI, for the economic recovery to occur in an inclusive and increasingly sustainable way, it is important that the OECD promotes a diversification and geographical expansion of its members, allowing the accession of countries with different economic and social realities, including Brazil, in order to allow the Organization’s policies and best practices to reach and benefit everyone.

A key partner and non-member country with the highest degree of alignment with the body of standards, Brazil formally applied to join the OECD in 2017. Out of a total of 245 instruments, Brazil has already acceded to 99, which corresponds to 40% convergence.

Brazil’s Accession to the OECD

In February, Brazil took another step towards the country’s accession to the OECD with the approval of the legal instrument on consumer credit rights, reaching 99 of the public policies that are part of the OECD norms.

Between 2019 and January 2021, Brazil jumped from 65 (December 2018) to 99 normative instruments acceded to so far, a growth of 52.3%.

In 2020 alone, there were 17 new instruments, on topics such as budget governance, regulatory policy and governance, cooperation in science and technology, sustainable development, consumer product safety, consumer protection, financial literacy, among others.

The approval of Brazil in an OECD instrument means the alignment of the country with the best international practices in a particular theme, harmonizing sectors involved or public policies with practices known to be effective and in accordance with the OECD’s objectives: to have evidence-based public policies that promote prosperity, equality, opportunity and welfare for all.

Brazil Council – OECD

Brazil is the key partner with the highest adherence to OECD public policies. The process for Brazil’s accession to the organization contributes to the firm and sustainable resumption of socioeconomic development in the post-crisis period.

The preparation for the accession process is conducted by the Brazil-OECD Council, formed by the Chief of Staff; the General Secretariat of the Presidency; the Government Secretariat of the Presidency; and the Ministries of Foreign Affairs and the Economy.

The country’s approach to the international organization dates back to the 1990s, when Brazil participated in the Steel Committee. In 2017, Brazil’s application to join the OECD as a full member was formalized and, since then, it has adopted measures to intensify convergence to the organization’s standards of good practice.

OECD

The Organization for Economic Cooperation and Development (OECD) was established in 1961 with twenty founding members. The OECD is currently composed of 36 countries, with headquarters in Paris, France. Member participation and the work of the secretariat form the foundation of the OECD.

Source: Government of Brazil