Memorandum of Understanding signed during the International Economic Forum for Latin America and the Caribbean
Press release in Spanish here
Paris, January 25, 2010.
The Organisation for Economic Co-operation and Development (OECD) and the Inter- American Development Bank (IDB) agreed to collaborate more closely in generating and disseminating good practices and public policy that will favor economic and social development in Latin America and the Caribbean.
The agreement culminated in a Memorandum of Understanding signed by the Secretary General of the OECD, Angel Gurría and the President of IDB, Luis Alberto Moreno, within the framework of the International Economic Forum for Latin America and the Caribbean, annual event that the two organizations sponsor jointly in Paris.
IDB President Moreno mentioned that pursuant to a recent invitation made to Chile requesting that it join the OECD, the number of member nations common to both institutions will reach 20 (the OECD has a total of 31 member nations and the IDB 48). The nations common to both are 14 European countries, Canada, the Republic of Korea, Chile, United States, Mexico and Japan.
Israel and Slovenia, members of IDB, are candidates to enter OECD. This organization with headquarters in Paris has established an enhanced engagement mechanism with two other nations that are IDB members, Brazil and China.
In addition, the OECD has a Development Center in which seven Latin American countries fully participate as members and these are also members of the IDB, namely, Brazil, Columbia, Costa Rica, Chile, Mexico, Peru and the Dominican Republic.
“We have a long history of cooperation with OECD, in a variety of areas which we hope to continue strengthening,” said Moreno. “We participate in various networks and OECD work groups, including those of the Development Assistance Committee” he added.
Other areas of cooperation and shared effort in which the two organisms take part are competitiveness, education, fiscal policy, economic investigations, policy and strategy in the area of innovation, statistics, quality of life, assistance for development and governance, among others.
In addition to the International Economic Forum for Latin America and the Caribbean, that the two institutions coordinate, since 2003 the IDB and the OECD have organized another annual event: the Latin American Competition Forum.
The Memorandum of Understanding comes as a result of the Paris Declaration on Development Effectiveness, which requests that international organisms and multilateral development banks work in conjunction, looking for better synergies, and thus avoiding duplicating efforts.
The document substitutes a Joint Declaration of Priorities signed by both institutions on April 7, 2003.
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