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Hey, Students! Please welcome Professor Owl 🦉. He will be telling us today about Organization for Economic Cooperation and Development. Since owls are very wise, Hootfully, He’ll be of help to you! If you scroll further down this blog, you’ll see all the information you will need!
The Organisation for Economic Co-operation and Development (OECD) is a multilateral group of 38 member nations that works to develop economic and social policy. As per the rules of the OECD, a nation can be a member of the Organization for Economic Cooperation and Development if it supports free-market economies.
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📔OCED Importance for Exams
There is no doubt that OCED is one of the important International Organizations. Aspirants who are preparing for Upcoming government exams will face questions related to such organizations. Having a decent knowledge of such international organizations will help you to improve international relations and Geopolitics sections.
Also Read: International Monetary Fund
What is the Organization for Economic Cooperation and Development?
In the year 1961, an international organization was formed by several nations to develop policies of economic progress and world trade. OCED is an international forum, where member countries describe themselves as focused to market economy and democracy. There are 38 members of this multilateral organization. India is not a member nation of this organization.
🙋 Facts About OCED
- OECD contributes to the United Nations related to global economic affairs.
- Only democratic countries can be a member of the OCED group, which supports free market economy
- The headquarters of the Organization for Economic Cooperation and Development is in Paris, France.
- According to the official website of OCED, there are 20 founding members of OCED including the USA, UK and more.
🌎 Members of Organization for Economic Cooperation and Development
There are 38 members of OCED. All of them are mentioned below:
- Australia
- Austria
- Belgium
- Canada
- Denmark
- Finland
- France
- Germany
- Greece
- Iceland
- Ireland
- Italy
- Luxembourg
- Mexico
- Netherlands
- New Zealand
- Norway
- Portugal
- Spain
- Sweden
- Switzerland
- Turkey
- United Kingdom
- U.S.A.
- Czech
- Hungary
- Republic of Korea
- Poland
- Slovakia
- Chile
- Slovenia
- Israel
- Estonia
- Latvia
- Lithuania
- Colombia
- Costa Rica
- Slovak Republic
“Kiddos, I’ve answered all your queries with the utmost precision that I was capable of. Now, I’ll be taking my leave, but if you think I might have missed something, do check out the FAQ section or drop a comment. I always respond!”
FAQs
The full form of OCED is the Organization for Economic Cooperation and Development. It is an international organization that works for economic growth.
No, India is not a member country for this multilateral organization.
According to official website of the institution, there are 20 founding members of OCEd including UK, US and other developed nations.
Related Blogs
| New Development Bank | World Bank |
| World Health Organization | Asian Infrastructure Investment Bank |
| Association of South East Asian Nations | South Asian Association For Regional Cooperation |
Hope you have gotten all the relevant information about the Organisation for Economic Cooperation and Development! If you want to know more about topics like this, then visit our general knowledge page! Alternatively, you can also read our blog on general knowledge for competitive exams!