The Organisation for Economic Co-operation and Development (OECD) is an international, intergovernmental organization consisting of 38 member countries that primarily have market economies. It was established in 1961 with the objective to stimulate economic progress and world trade1. The OECD’s mission is to create better policies for better lives, aiming to formulate policies that promote prosperity, equality, opportunity, and well-being for all individuals. It leverages over 60 years of experience to prepare for future challenges and opportunities, working towards a better and more prepared world2.
The member countries collaborate to promote economic growth, prosperity, sustainable development, and democracy. While the majority of member countries are from Europe and North America, the OECD also includes nations like Korea, Japan, Mexico, Chile, Australia, and New Zealand. This organization is an arena for comparison and cooperation, allowing member countries to discuss, develop, and refine economic and social policy3.
Furthermore, the OECD works with more than 70 non-member economies to promote economic growth, prosperity, and sustainable development globally. It serves as a platform where governments can work together to share experiences and seek solutions to common problems, aiming to understand and compare experiences, identify good practices, and coordinate domestic and international policies45.
The breadth and depth of the OECD’s work are vast, covering a wide range of topics from economics, education, employment, environment, health, and many more, to provide a well-rounded approach to policy development and implementation. Through its comprehensive approach and international cooperation, the OECD strives to tackle the global challenges of our time while ensuring that the benefits of economic growth and development are shared more widely.