Photo: Julien Daniel / OECD

On Thursday, June 2, Latvian Prime Minister Māris Kučinskis and the Secretary-General of the Organisation for Economic Co-operation and Development (OECD), Angel Gurría, signed the Agreement on Accession of Latvia to the OECD in Paris. Upon parliamentary ratification in Latvia, the country will officially become the organisation’s 35th member state.

The Prime Minister said that OECD membership has been a goal for Latvia for the past 20 years, but not the only goal: “The accession process for Latvia has already brought significant benefits and improvements.  It has been the driving force behind reforming the governance of state-owned capital enterprises and has also served as an additional incentive to enhance our capacity in countering bribery in international business transactions.”

The prime minister added that Latvia still has OECD recommendations that must be implemented and that there must be responsible decisions that will ensure economic development, as opposed to resting on Latvia’s laurels.

Mr Gurría, for his part, said that Latvia has successfully implemented a variety of reforms during the past three years, thus making great progress in a short period of time. “I am convinced that Latvia and its residents will benefit from OECD membership,” he said.

The accession agreement was signed during an OECD Ministerial Council meeting, which is held once a year. Alongside the meeting was a high-level forum for international experts, business representatives, academics and representatives of public organisations to discuss various issues.

Latvia’s Finance Minister Dana Reizniece-Ozola and Vice-President of the European Commission Valdis Dombrovskis also attended the signing ceremony.

Source: Ministry of Foreign Affairs
03.06.2016, Foreign Affairs, Economy