Global Insider: Colombia and the OECD

Colombian President Juan Manuel Santos recently submitted his country's application to join the Organization for Economic Cooperation and Development (OECD). In an e-mail interview, Michael Shifter, president of the Inter-American Dialogue, discussed the prospect of Colombia's OECD membership.

WPR: What are the benefits and responsibilities of OECD membership?

Michael Shifter: The OECD is a privileged club: In Latin America, only Chile and Mexico are currently members.Membership is a measure of a certain level of economic development and acommitment to sound policies and good-governance practices.OECD membersare expectedto make important policy decisions in accordance with the highest standards and to coordinate economic approaches among themselves.Membership is symbolically significant and conveys a strong message to the world that serious institutional-reform efforts are underway.

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