The OECD and Colombia: A mutually beneficial relationship
Colombia has been invited to become the 37th member of the Organisation (see press release). Colombia’s membership will take effect after it has completed its domestic procedures for ratification to the OECD Convention and deposited its instrument of accession. As part of its accession process to the OECD, Colombia underwent in-depth reviews by 23 OECD Committees and introduced major reforms to align its legislation, policies and practices to OECD standards, including on labour issues, reform of its justice system, corporate governance of state-owned enterprises, anti-bribery, trade as well as establishing a national policy on industrial chemicals and waste management. Colombia’s accession will extend the OECD’s membership to 37 countries. It will be the third member country from the LAC region, joining Mexico and Chile.
Colombia has valued 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 has enriched the OECD’s knowledge and policy advice, and benefited OECD Members and non-OECD countries by enabling them to acquire a better understanding of Colombia.