OECD gives the go-ahead for Brazil to start joining the group

RIO DE JANEIRO, BRAZIL – The OECD (Organization for Economic Cooperation and Development) gave the go-ahead for Brazil to join the group.

The decision was taken at a ministerial meeting on Friday, June 10, in Paris. The Minister of the Civil Household, Ciro Nogueira, was present.

Carlos Marcio Cozendey, delegate to the International Economic Organizations, said in a post on Twitter that the “accession roadmap” defines “committees that will examine the candidates’ policies and the exam criteria”.

Bulgaria, Croatia, Peru, and Romania also have advanced access to the OECD.

The “roadmap” has a series of terms, conditions, and processes for each country’s admission to be effective.

According to Valor Econômico newspaper, Brazil will have to reverse deforestation by 2030, fight corruption, open the country’s trade to foreign countries, and other topics.

Brazil’s Economy Minister Paulo Guedes greatly supports Brazil’s entry into the OECD. He said in April that the process is “advanced”.

A study by Ipea (Institute for Applied Economic Research) showed that Brazil’s GDP (Gross Domestic Product) could rise 0.4% per year with Brazil’s membership in the OECD.

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