Argentina has submitted an initial memorandum to formalize its membership application to the Organisation for Economic Co-operation and Development, as announced by the international body on Tuesday. OECD officials characterized the filing as a “decisive step” in the nation’s accession process. During a visit by OECD Secretary-General Mathias Cormann to Buenos Aires, Foreign Minister Pablo Quirno presented Argentina’s initial memorandum, which the organisation described as “marking an important step towards accession,” in a statement. Argentina initially indicated its desire to become a member of the OECD in 2016, during the presidency of Mauricio Macri. After a span of six years, the organization has officially initiated discussions with Argentina, alongside Brazil, Peru, Bulgaria, Croatia, and Romania.
In May 2024, Argentina was presented with a roadmap it is required to adhere to in order to gain membership in the organization that unites the world’s principal economies characterized by democratic governance. Argentina had originally pledged to present the initial memorandum by the conclusion of 2024. The submission of this document – a preliminary self-assessment by Argentina regarding the alignment of its legislation, policies, and practices with OECD standards – signifies the commencement of the “technical phase.” In accordance with the formal OECD accession process, endorsed by the organisation’s 38 member countries, a dialogue will now commence with 25 expert committees addressing a diverse array of public policy domains.
Prolonged precipitation and halted operations have resulted in significant flooding across Argentina’s Pampas region. Heavy rains and stalled works have resulted in significant flooding across Argentina’s Pampas region. In August 2024, Cormann articulated that this technical review process might extend over several years. “The OECD accession process complements Argentina’s ambitious economic reform agenda, helping to strengthen the foundations for medium- and long-term growth,” stated Cormann in the announcement.
This will reinforce international confidence in Argentina’s policy direction, support stronger and more sustainable growth, and promote higher incomes and living standards, while deepening the OECD’s cooperation with a major G20 economy, he added.