The Organisation for Economic Co-operation and Development (OECD) is an international, intergovernmental economic organization of 34 countries. OECD was founded in the year 1961 to stimulate world trade and economic progress.

Details on OECD:

  • Most OECD members are high-income economies with a very high Human Development Index (HDI) and are regarded as developed countries.
  • As of 2017, the OECD member states collectively comprised 62.2% of global nominal GDP (US$49.6 trillion) and 42.8% of global GDP (Int$54.2 trillion) at purchasing power parity.
  • OECD is an official United Nations (UN), observer member.
  • It is a forum of countries describing themselves as committed to democracy and the market economy.
  • It provides a platform for its member countries to compare policy experiences, seek answers to common problems, identify and share best practices and coordinate domestic and international policies of its member nations.
  • In the year 1948, the OECD originated as the Organisation for European Economic Co-operation (OEEC), led by Robert Marjolin of France, to help administer the Marshall Plan (which was rejected by the Soviet Union and its satellite states.

OECD Member Nations:

The OECD provides its members with a forum in which governments can work together to share experiences and seek solutions to common problems. Its forerunner was created by 18 European countries and the United States and Canada. 

The 34 OECD member countries are: Australia, Austria, Belgium, Canada, Chile, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Iceland, Ireland, Israel, Italy, Japan, Korea, Luxembourg, Mexico, the Netherlands, New Zealand, Norway, Poland, Portugal, Slovak Republic, Slovenia, Spain, Sweden, Switzerland, Turkey, the United Kingdom, and the United States. 

Additionally, the OECD works closely with several countries from Asia, Africa, Latin America, and the Caribbean to further shape its work.

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