OECD

About OECD:

• OECD is an intergovernmental economic organization with 36 member countries.
• It was founded in 1961 to stimulate economic progress and world trade.
• Headquarters: Paris, France.
• The mission of OECD is to promote policies that will improve the economic and social well-being of people around the world.

OECD Member countries

• Most OECD members are high-income economies with a very high Human Development Index (HDI) and are regarded as developed countries.
• The 34 OECD member countries are: Australia, Austria, Belgium, Canada, Chile, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Iceland, Ireland, Israel, Italy, Japan, Korea, Luxembourg, Mexico, the Netherlands, New Zealand, Norway, Poland, Portugal, Slovak Republic, Slovenia, Spain, Sweden, Switzerland, Turkey, the United Kingdom, and the United States.

Objectives of OECD

• Sustainable economic growth is the ultimate goal of the OECD.
• Their objectives include:
  • Promote Employment
  • Improve the standard of living
  • Facilitate world trade growth
  • Maintain financial stability

OECD Agencies

• The OECD created agencies such as the OECD Development Centre, International Energy Agency, and Financial Action Task Force on Money Laundering.

PRELIMS QUESTION

Which of the following countries are members of Organisation for Economic Co-operation and Development (OECD)?
1.India
2.USA
3.China
4.Australia
Select the correct answer using the code given below:
(a)1,2 and 4 only
(b)2 and 4 only
(c)2,3 and 4 only
(d)1,2,3,4

Answer to Prelims Question