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OECD begins talks for accession of Brazil, Argentina and Peru

The Organization for Economic Cooperation and Development (OECD) announced that it will begin the process of discussions for the accession of Argentina, Brazil Y Peru as members.

The opening of talks on the accession of these three Latin American and three European countries (Bulgaria, Croatia, and Romania) was decided at a meeting of the OECD Council, according to a statement from the organization.

According to the resolution, the evaluation of the candidacies will begin to determine if these countries comply with “the preservation of individual freedom, the values ​​of democracy, the rule of law and the protection of human rights.”

In addition, OECD members must be committed to “an open market economy based on free trade, competition, sustainability and transparency,” the text said.

“The candidate countries will be able to use the accession process to promote further reforms for the benefit of their peoples,” said OECD Secretary-General Mathias Cormann after the Council’s decision.

The technical exams will focus on areas such as trade and investment opening, advances in public governance, efforts in the fight against corruption and climate change, and environmental protection, the organization explained.

The OECD has among its 38 member states four Latin American countries: Chile, Costa Rica, Colombia and Mexico.

The OECD countries -founded in 1961- and their key partners account for about 80% of world trade and investment.

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