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OECD Full Form: Check History, Objective, Members Countries etc.

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OECD Full Form: The Organisation for Economic Co-operation and Development is an intergovernmental economic organisation with 38 member countries, founded in 1961 to stimulate economic progress and world trade. OECD could be a forum of states describing themselves as committed to democracy and free enterprise, providing a platform to check policy experiences, identify good practices and coordinate domestic, seek answers to common problems, and international policies of its members.

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Today, OECD member countries account for three-fifths of global GDP, three-quarters of global trade, more than 90% of global official development assistance, half of global energy consumption, and 18% of the global population. Throughout this article, you will get complete information about the OECD full form, such as how they work, its objectives, history, members etc.

Page Index
1 OECD Overview
2 What is OECD?
3 OECD Objectives
4 Organisational Structure of OECD
5 OECD Functions and Responsibilities
6 Member Countries
7 OECD Employment Rates
8 Frequently Asked Questions (FAQs)

OECD Overview

The OECD is an intergovernmental economic organisation with 38 member countries

OECDOrganisation for Economic Co-operation and Development (OECD)
HeadquartersParis, France
Formation16 April 1948
Secretary-GeneralMathias Cormann
TypeIntergovernmental organisation
Member36 Member

What is OECD?

The Organisation for Economic Co-operation and Development (OECD) is a global organisation that works to improve policies for better lives. They draw on 60 years of experience and insights to better prepare the planet of tomorrow. They aim to shape policies that foster prosperity, equality, opportunity, and well-being.

  • OECD provides a stage for its member countries to match policy experiences, identify and share best practices, seek answers to common problems and coordinate domestic and international policies of its member nations.
  • The OECD member states collectively included 62.2% of worldwide nominal GDP (US$49.6 trillion) and 42.8% of global GDP (Int$54.2 trillion) at buying power parity in 2017.
  • OECD members are high-income economies with a very high Human Development Index (HDI) and are regarded as developed countries.


  • The Organisation for European Economic Co-operation (OEEC) was formed in 1948 to administer American and Canadian aid within the framework of the European Recovery Program for reconstructing Europe after war II.
  • In the 1950s, the OEEC provided the framework for negotiations to determine conditions for putting in place a European trade Area to bring the European Economic Community of the six and the other OEEC members together on a multilateral basis. In 1958, a European atomic energy Agency was founded under the OEEC.
  • OEEC was renamed the OECD in 1961 when the USA and Canada joined to reflect a broader membership.

OECD Objectives

The objectives of the OECD involve fostering economic development and cooperation and fighting poverty by promoting financial stability.

  • It also assures that the environmental impact of growth and social development is often considered.
  • Over the years, OECD has built the standards of living in multiple countries and added to the expansion of world trade.

Organisational Structure of OECD

Organisational Structure of OECD--
Organisational Structure of OECD–

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OECD Functions and Responsibilities

The OECD plays a critical role in promoting global economic stability. The Organization for Economic Cooperation and Development (OECD) publishes and updates a model tax convention as a template for allocating taxation rights between countries.

  • The OECD publishes economic reports, statistical databases, analyses, and forecasts on global economic growth.
  • The group investigates the impact of social issues on economic growth and makes recommendations to promote global economic growth. These recommendations also consider the environmental concerns associated with economic development.
  • The organisation works to eradicate bribery and other forms of financial crime worldwide.
  • The OECD also keeps a “blacklist” of countries that it considers to be uncooperative tax havens.
  • It also took efforts in the G-20 countries to eliminate tax evasion by profitable corporations. It also encourages the G-20 to promote tax reforms.

Principles of OECD

  • Openness, transparency, and inclusiveness.
  • Engagement and participation in policymaking and service delivery.
  • Creation of a data-driven culture in the public sector.
  • Protecting privacy and ensuring security.
  • Leadership and political commitment.
  • Coherent use of digital technology across policy areas.
  • Effective organization and governance frameworks for coordination.
  • Strengthening international cooperation among governments.
  • Development of clear business cases.
  • Reinforcement of ICT project management capabilities.
  • Procurement of digital technologies.
  • Establishment of a legal and regulatory framework.

Member Countries

There are currently (May 2021) 38 members of the OECD.

CountryMembershipGeographic location
Australia7 June 1971Oceania
Austria29 September 1961Europe
Belgium13 September 1961Europe
Canada10 April 1961North America
Chile7 May 2010South America
Colombia28 April 2020South America
Costa Rica25 May 2021North America
Czech Republic21 December 1995Europe
Denmark30 May 1961Europe
Estonia9 December 2010Europe
Finland28 January 1969Europe
France7 August 1961Europe
Germany27 September 1961Europe
Greece27 September 1961Europe
Hungary7 May 1996Europe
Iceland5 June 1961Europe
Ireland17 August 1961Europe
Israel7 September 2010West Asia
Italy29 March 1962Europe
Japan28 April 1964East Asia
South Korea12 December 1996East Asia
Latvia1 July 2016Europe
Lithuania5 July 2018Europe
Luxembourg7 December 1961Europe
Mexico18 May 1994North America
Netherlands13 November 1961Europe
New Zealand29 May 1973Oceania
Norway4 July 1961Europe
Poland22 November 1996Europe
Portugal4 August 1961Europe
Slovakia14 December 2000Europe
Slovenia21 July 2010Europe
Spain3 August 1961Europe
Sweden28 September 1961Europe
Switzerland28 September 1961Europe
Turkey2 August 1961West Asia/Europe
United Kingdom2 May 1961Europe
United States12 April 1961North America
Source: Wikipedia

India and OECD

India has been engaged with the OECD since 1997 through a cooperation program, despite not being a formal member. However, it became the 27th member of the OECD’s Development Centre. In 2007, the OECD Council adopted a resolution to strengthen cooperation with India, alongside other key partners such as Brazil, China, Indonesia, and South Africa. As a Key Partner, India benefits from access to the OECD’s analysis, statistical databases, technical expertise, and analytical capacity, enhancing its policymaking capabilities and fostering international collaboration.

OECD Employment Rates

OECD Employment Rates
OECD Employment Rates

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OECD Funding Sources

  • OECD is primarily funded by member countries.
  • Contributions are based voluntarily.
  • The formula considers the economic size and relative wealth of each member.
  • Additional funding from contracts for specific projects or activities.
  • Revenue generated from publications and other products/services.


The Organization for Economic Co-operation and Development (OECD) is one of the most important groups for promoting economic growth and unity between its 38 member countries. It has been around since 1961 and works to improve well-being, equality, and wealth while also tackling problems like poverty and protecting the environment. The OECD is very important to the way international economic government works because it has many important jobs, such as supporting economic stability, fighting financial crime, and making policy suggestions. The OECD is still a key player in promoting global economic growth thanks to its openness, transparency, and inclusion ideals and its work with important partners like India.

Frequently Asked Questions (FAQs)

Q. What means OECD?

A. The Organisation for Economic Co-operation and Development (OECD) is an international organisation that works to build better policies for better lives.

Q. Who funds the OECD?

A. its member countries fund OECD. National contributions are based on a formula that takes into account the size of each member’s economy. Governments may also make voluntary contributions to financially support outputs in the OECD program of work.

Q. Where is the headquarter of OECD?

A. The headquarter of OECD in Paris, France

Q. How many OECD members are there?

A. There are 38 Member countries in OECD.

Is India a member of the OECD?

No, India isn’t a member of the OECD yet. This is because India is being wary about what kind of signal its membership in OECD would give to other emerging countries located in the South Asian continent. But it is a crucial partner of the OECD.

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