Brasília – The United States moved this Thursday (23) to support Brazil’s accession to the Organisation for Economic Co-Operation and Development (OECD). The official announcement was made during an OECD meeting in Paris.
Brazilian foreign minister Ernesto Araújo said this is “the main item that was missing in order for us to begin our OECD accession process as soon as possible.”
The USA’s support, according to Araújo, is “very important in our path to becoming full members of the OECD. We had been counting on this ever since president [Jair] Bolsonaro’s visit to the United States. President Trump had been abundantly clear in guaranteeing his support.”
Block
Brazil made its bid for OECD accession in May 2017, but the USA government had been blocking it. President Donald Trump changed his mind once Bolsonaro pledged that in return for his support, Brazil would waive the special treatment given to developing countries at the World Trade Organization (WTO).
Though not a full member, Brazil is either a partner, participant or guest in 36 different instances of the OECD. It has also adhered to 26 recommendations and other instruments of the OECD, with which it sustains a bilateral cooperation agreement since 2015.
The Paris-based multilateral organization currently has 35 full members. It is a forum for good practices in economy, and the prevailing view in the current Brazilian administration is that becoming a member is tantamount to getting a “quality stamp” for the national economy.
*With information from the ANBA Newsroom. Translated by Gabriel Pomerancblum
