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OECD is related to the economic development and world trade improvement of the countries who are the members of this particular organization. It is basically a forum associated with the countries which helps to explore themselves as the democratic countries and committed to the market economy. On the other hand, it can be stated that OECD gives an open platform to the countries which can help the countries to share their experiences related to the policies and monitor the answers.
OECD
OECD is defined as the forum related to the development as well as the progress of the economical and the social condition of the countries who are members of the OECD. In 1961, OECD was founded for the improvement of economics and trade in the world.
It can be stated that the countries related to this particular organization follow democracy. The headquarter of OECD is in Paris, France. The foundation date of this organization is 30th September, 1961.
There are some countries who help to establish this specific organization. These countries are the United Kingdom, France, Germany, Spain and the United States. There are some purposes of the OECD at the time of its establishment. These purposes are given below:
They have been trying to create better policies which are associated with the better living standard of the people of the countries.
This organization also tries to provide a perfect shape of the policies which can try to increase prosperity.
The other important goal of the organization is to use the trade policies for the wellbeing and the equality of the people of the member countries.
Full form of OECD
There is a full form OECD as ‘The Organization for Economic Co-operation and development’. It can be stated that the present general secretary of OECD is Mathias Cormann. He is the 6th general secretary of this organization. The life -expectancy of this above-mentioned organization is based on the GDP rate of the countries. The life expectancy of the organization exceeds around 79 years after its birth. Conversely, there is a gap of 9 years between the countries related to the highest life expectancy. The highest ranked OECD countries are identified with the help of their GDP rate. Luxembourg is the highest ranked country and the GDP rate of this country is $110906. On the other hand, the second highest country is Ireland and its GDP rate is $83081.
Countries related to OECD
There are around 38 countries who are members of the OECD for their development of the economic and social condition. These 38 members are Austria, Belgium, Australia, Costa Rica, Columbia, Canada, Chile, Chez Republic, India, Lithuania, Latvia, Luxembourg, Hungary, Mexico, Netherlands, Portugal, Denmark, Finland, France, Estonia, Greece, Germany, Ireland, Iceland, Italy, Japan, Israel, Korea and any other countries.
In the context of the discussion, it is portrayed that India has joined the OECD for their development. Basically, India is considered as the observer of the OECD organization. This country is related to the committee and the financial affairs of this particular organization. India is also considered as an important part of the organization which can try to broaden the involvement of the other non-OECD countries in the work of this organization. This type of involvement can also be important for the economic condition of the OECD. Therefore, it is clear that India has a significance related to the organization.
Those countries are considered as OECD countries which are members of the organization and try to continue the discussion related to the development of economic and social conditions. Members of the organizations can also try to discuss the economic policies of the countries and they can try to support the free market economic policy.
Conclusion
From the above discussion, it can be concluded that the OECD is one of the important organizations for those countries who are considered as developing countries in the context of their economic development. This is related to economic independence and policy coordination among the developed countries. Mainly, the OECD is the developed form of the OEEC which was established in 1948 for the economic and social development of European countries. On the other hand, OEEC can try to monitor the contribution of America and Canada on world economic improvement under the Marshall plan. It is seen that the mission of the OECD is to explore the policies which can try to improve the social and the economical welfare of the people in the developed countries. The other objective of the OECD is to provide confidence to the countries in the context of their free-market policies.
