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Bucharest
April 12, 2021
BUSINESS

When will Romania join the OECD?

Romania’s accession to the Organization for Economic Cooperation and Development (OECD) is still “a strategic foreign policy goal for Romania,” Maricel Popa, secretary of state within the Economy, Commerce and Tourism Ministry, stated at the 78th session of OECD’s Steel Committee which took place in Paris on May 11-12.

Although this goal has garnered the attention of Romanian governments for over 20 years, it has not been attained. Despite the fact that joining the OECD would offer numerous advantages, including the benefit of being part of a select forum of developed economies and the implicit global-level recognition of its statute as a functional market economy and consolidated democracy, with an impact on the country rating and on foreign investments. At the same time, as a member of OECD Romania would benefit from access to information in top-priority domains (governance framework, legislative reform, anti-corruption, fiscal policy, transport infrastructure, agriculture, education etc.).

Romania currently participates in 32 committees or other OECD instruments in various domains (agriculture, SMEs, foreign investments, competition, judiciary etc.), being a full member or observer in 18 of them.

Set up in 1961 in Paris, the Organization for Economic Cooperation and Development seeks to promote policies meant to improve economic and social welfare throughout the world. The OECD currently has 34 members worldwide and a budget of EUR 357 M.

 

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