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A mutually beneficial relationship
Colombia is currently in the accession process with the OECD. On 29 May 2013, the OECD Council Meeting at the Ministerial Level decided to open accession discussions with Colombia.
The review and evaluation procedure allows for the sharing of OECD standards and good practices with Colombian authorities, and the identification of areas for future reforms. Colombia values the opportunity to discuss major policy issues and challenges in a multilateral context and to learn from the experiences of OECD countries facing similar challenges in many areas. In turn, this dialogue enriches the OECD’s knowledge and policy advice, and benefits OECD members and non-OECD economies by enabling them to acquire a better understanding of Colombia.
“Colombia already has clear evidence of the impact that the OECD can have in a Latin American country. The accession process has initiated several institutional reform processes and triggered very important internal reflections. The OECD does well to turn their eyes towards our region, as evidenced by its new Regional Programme for Latin America and the Caribbean. This is a region that has much to learn and much to offer in experiences of social and economic policies. Our countries have challenges and experiences on issues that are of increasing importance in most developed countries, including growth, increasing productivity without leaving behind the most vulnerable, and governance in the context of an increasingly demanding population. It is a region that can benefit greatly from the concepts promoted by the OECD in the areas of governance, transparency and inclusiveness. Indeed, it is not easy to decide which is more true: Latin America needs the OECD or the OECD needs Latin America.”
Juan Manuel Santos, President of Colombia
Colombia's participation in OECD activities
Colombia participates in the substantive work of many of the OECD’s specialised Committees. In line with the Roadmap for its accession, Colombia submitted an Initial Memorandum outlining its position on 250 OECD Legal Instruments, providing the basis for a series of technical reviews conducted by OECD Committees. The results of these reviews are discussed within the Committees, and ultimately reported to the OECD Council in the form of a formal evaluation of Colombia’s policies.
Colombia adheres to many OECD Legal Instruments, and participates in multiple OECD Bodies. Colombia will host the launch of the OECD Network of Health Systems for Latin America in July 2016 and participates in seven other OECD-LAC Regional Forums and Networks. Colombia joined the Development Centre in July 2008 and further collaborates with the OECD in other areas.
The Colombian economy has been more resilient than other Latin American countries to the recent fall in commodities prices, and remains among the strongest in the region. The latest OECD Economic Survey of Colombia finds that while important reforms and current economic policies have helped the country adapt to external shocks, more can be done to boost productivity, improve the business environment and make growth more inclusive.
Additional Recent Reviews of Colombia