The Organisation for Economic Co-operation and Development (OECD) is an intergovernmental organization founded in 1961, aimed at promoting policies that enhance economic and social well-being globally. Here are key aspects of the OECD:

Overview

• Members: Comprises 38 member countries, primarily high-income economies, which are committed to democracy and market economy principles.
• Headquarters: Located in the Château de la Muette, Paris, France.
• Languages: The official languages are English and French.

Historical Context

• The OECD succeeded the Organisation for European Economic Co-operation (OEEC), which was established in 1948 to manage the distribution of Marshall Plan aid for post-war reconstruction in Europe. The transition to the OECD marked a shift from merely managing aid to broader economic cooperation among member states.

Objectives

The OECD aims to:

• Achieve sustainable economic growth and employment while maintaining financial stability.
• Foster sound economic expansion in both member and non-member countries.
• Promote free trade on a multilateral basis.

Structure

The organization consists of:

• Council: Composed of representatives from member countries, providing direction and guidance.
• Substantive Committees: Focused on various work areas, overseeing publications, conferences, and task forces.
• Secretariat: Led by the Secretary-General (currently Mathias Cormann), supporting the council and committees.

Recent Developments

In July 2024, the OECD adopted an open-access model for its publications, allowing free access to its data and reports. This initiative aims to empower citizens and enhance democratic decision-making processes.The OECD continues to be a vital forum for international cooperation, addressing issues such as education, environment, and economic policy among its member nations.