The Organisation for Economic Co-operation and Development (OECD) is an international organisation dedicated to shaping policies that foster sustainable economic growth, employment, and raising the standard of living through open and stable markets, and mutually supportive economic and social policies.
The OECD comprises 38 member countries, which, along with its Key Partners - Brazil, China, India, Indonesia, and South Africa – account for about 80% of the world’s trade and investment. Latvia officially became the 35th member of the OECD on July 1, 2016. Through its standards, programmes and initiatives, the OECD helps drive and anchor advancement of economic, social and democratic best practices and reforms in more than 100 countries around the world, building on collective wisdom and shared values.
Together with governments, policy makers and citizens, the OECD works on establishing evidence-based international standards and finding solutions to a range of social, economic and environmental challenges. From improving economic performance and creating jobs to fostering strong education and fighting international tax evasion, the OECD provides a unique multilateral forum and knowledge hub for data and analysis, exchange of experiences, best-practice sharing, and advice on public policies and international standard-setting.
The OECD provides knowledge that members and partners can use as they make policy decisions. OECD`s analysis is captured in more than 500 major reports and country surveys, as well as the hundreds of policy briefs, articles and digital content on policy issues that the OECD produces.
The OECD sets international standards and codes in collaboration with Member countries. OECD`s agreed standards range from legally binding instruments, to responsible business conduct and to safeguarding the environment. OECD`s standards and codes help level the global playing field, deepen international co-operation, and encourage all countries to address challenges and improve their own performance.
The OECD works through more than 300 committees, expert and working groups that cover almost all areas of policy making. OECD`s committees propose solutions, assess data and policy successes, and review policy actions among Member countries. They cover the same issue areas as government ministries, such as education, finance, trade, environment, development, and liaise with country-level experts.
Latvia's benefits from OECD membership
Latvia's membership in the OECD provides an international "quality seal", certifying Latvia's compliance with the highest standards in business, digitalization, financial transactions, corporate governance, combating corruption in international transactions, etc.
By joining the organization, the Latvian state administration has had the opportunity both to follow the latest policy trends in OECD member states and to participate in the development of recommendations for the implementation of specific policy programs. Membership in the OECD has served as an important support for improving the quality of Latvian policy and legal regulation in many areas of public administration, approaching the highest international standards of management policy.
Evaluations of OECD sectoral policies and reforms, as well as evidence-based recommendations on issues important to Latvian society - improving the business and investment environment, promoting exports, increasing productivity, reducing inequality, reforms in education, fighting tax evasion, fighting corruption - provide an opportunity to improve the efficiency of the Latvian state administration, the state's competitiveness and the level of well-being of the population.
The Ministry of Foreign Affairs is the coordinating institution for Latvia's cooperation with the OECD, while the Latvian Permanent Representation to the OECD and UNESCO in Paris is responsible for representing Latvia's interests in the OECD on behalf of the government.
With the aim of providing the public with an insight into Latvia's participation and cooperation with the OECD, the Ministry of Foreign Affairs, in cooperation with the participating state institutions, submits an annual informational report to the Cabinet of Ministers of Latvia, which also describes work priorities in the OECD, Latvia's bilateral projects with the OECD, as well as OECD's good practices and implementation of OECD legal instruments in Latvian policy:
- Report (in Latvian) on Latvia's participation in the OECD in the period from July 2022 to July 2023 and its annex on the priorities and current affairs of OECD committees and working parties
- Report (in Latvian) on Latvia's participation in the OECD in the period from July 2021 to July 2022 and its annex on the priorities and current affairs of OECD committees and working parties
- Report (in Latvian) on Latvia's participation in the OECD in the period from July 2020 to July 2021 and its annex on the priorities and current affairs of OECD committees and working parties
- Report (in Latvian) on Latvia's participation in the OECD in the period from July 2019 to July 2020 and its annex on the priorities and current affairs of OECD committees and working parties