Ukraine has submitted the application for joining the OECD

The Prime Minister of Ukraine Denys Shmyhal submitted the application for Ukraine’s accession to the Organization for Economic Co-operation and Development (OECD) to the Secretary-General Mathias Cormann. It is symbolic that this happened during the discussion on practical implementation of the Recovery Plan of Ukraine within the conference in Lugano. This shows Ukraine shares all principals of the organization and wish to become its member as soon as possible.

The OECD is an intergovernmental organization with 38 member countries, which account for more than 62% of world GDP. OECD members declare their commitment to democracy and the market economy. The organizations is based in Paris and founded in 1961 to stimulate economic progress and world trade. In March, the OECD Council decided to immediately suspend the participation of russia and relarus in all its bodies. russia aimed to join this elite world club, but due to the war in Ukraine the organization also decided to stop any relations with the aggressor state and completed the negotiations on its possible accession.

Further international partners support, future work on Ukraine’s recovery and accession to the EU will be based on the completion of structural reforms in Ukraine. As the OECD has been working in close partnership with Ukraine to support its ambitious reform agenda for more than 30 years, Ukraine’s membership will have the fundamental importance in achieving the goals of the country.

One of the most powerful ways to communicate that foreign businesses can and do operate successfully in Ukraine is through the voices that matter most to potential investors – those of other businesses.
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