Colombia Formally Joins OECD: Congress Continues to Convene Representatives of the Executive
29 abril 2020

On April 29, the Organization for Economic Cooperation and Development (OECD) announced that Colombia has formally been accepted as a member of the organization. This country is the 37th member of the organization worldwide and the third in Latin America, joining Chile and Mexico. In other news, the Senate’s Third Committee welcomed the Minister of Trade, Juan Manuel Restrepo, and the Deputy Minister of Finance, Juan Pablo Zárate, on the same day, to discuss the economic recovery measures adopted in response to the economic crisis created by the COVID-19 pandemic. 

“The adhesion process has provided Colombia with the opportunity to discuss its main public policy issues and challenges in a multilateral context,” said the organization’s secretary general, Ángel Gurría. Colombia successfully concluded the accession process after completing internal procedures to ratify the OECD Convention and file the instrument of accession.

During the Senate Third Committee meeting, Juan Manuel Restrepo highlighted the trade measures adopted to guarantee access to basic goods through price controls. He also reported on the different credit lines granted by the Government and the facilities presented for people to pay their tax obligations. From the Ministry of Finance, Juan Pablo Zárate explained how resources were being distributed to address the pandemic.