Colombia joins the club of developed countries
Accession will be effective when the nation complies with a series of internal steps, in particular the ratification by the Parliament of the OECD convention
After five years in the process, finally the countries of the Organization for Economic Cooperation and Development (OECD) approved the entry of Colombia to the “club of developed countries“.
Since Colombia began the process for its entry, in May 2013, it has undergone several in-depth evaluations by 23 OECD committees, which in a statement stressed that in this time the country, “has made major reforms to align its legislation, policies and practice with the standards” of the organization.
The reforms have covered different subjects, such as labor issues, the judicial system, the corporate governance of public companies, the fight against bribery or trade-related issues.
The next step to this invitation to Colombia, adopted by the ambassadors of the member states, will be the signature on May 30 in Paris of an access agreement by the Colombian president, Juan Manuel Santos, and the secretary general of the OECD, Ángel Gurría, during the ministerial meeting of the organization.
The accession will be effective when the nation complies with a series of internal steps, in particular the ratification by the Parliament of the OECD convention, as well as the deposit of the instrument of accession with the French Government, said a spokesman.
N. Moncada
Source: EFE and others.
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