Israel Close to Being Accepted into the OECD





Israel is on its way to be accepted into the Organization for Economic Cooperation and Development (OECD): Israeli Finance Minister Yuval Steinitz and OECD Secretary-General Angel Gurría have agreed that Israel will become a member of the organization by May 2010.

The two officials met in Paris last week during Steinitz’s visit to the biannual meeting of ministers of OECD members and countries which have applied to become members. In November the organization is expected to release its first comprehensive review of the Israeli market’s situation – a decisive move ahead of Israel becoming a full member of the organization.

 Being an OECD member is mainly a matter of prestige. The organization, which was founded in 1961, is a club of developed, democratic and liberal countries, whose representatives meet and work to coordinate their policies in the economic, social, environment and financial fields.

Israel’s economy has admirable strengths. Rapid expansion of hi-tech activities over the past two decades has contributed significantly to an impressive rate of GDP growth; an environment of low inflation is firmly established; and the economy has weathered the recent global recession relatively well.

In the framework of Israel’s accession to the OECD, the OECD has published the following:
Economic Survey of Israel 2009
OECD Reviews of Labour Market and Social Policies: Israel

You can also find the OECD general announcement here:
Reforming education and raising employment key to Israel’s long-term economic growth

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