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Ratification of Estonia’s OECD Accession Treaty Begins


No. 329 -E

Today Foreign Minister Urmas Paet will speak in the Riigikogu, where the first reading for the ratification of Estonia’s accession treaty to the Organisation for Economic Co-operation and Development (OECD) will begin.

Foreign Minister Urmas Paet stated that Estonia has already benefited greatly from the analyses and information it has received from the OECD. “As part of the accession process, many high-level overviews have been compiled, and we have also been able to share Estonia’s experiences in the international arena,” said Paet. The foreign minister added that OECD accession is confirmation of the success of Estonia’s economic policy. “Joining the organisation highlights the stability of our economic policy and economic environment. As an OECD member, we will have the opportunity to share our knowledge, for example in regards to carrying out economic reforms, and the opportunity to learn from others’ experiences will be open to us,” Paet explained.

Estonia expressed interest in joining the OECD as early as 1996. In 2007 Estonia was invited to accession negotiations, which ended in the spring of this year when Estonia signed the accession treaty with the OECD. “We will become a full member of the organisation when the Riigikogu has ratified the treaty and, following that, we have presented our accession letter to be stored in the French Foreign Ministry,” said Paet. From 14 December 2010 until next fall, the OECD will be celebrating its 50th anniversary. “In order to participate in the anniversary events as a full member, it is important that our accession documents are deposited by 14 December,” said the foreign minister.

In order to join the OECD, it is necessary to ratify the Organisation for Economic Co-operation and Development’s convention of 14 December 1960, the agreement between the Government of the Republic of Estonia and the OECD on the rights, immunity and concessions given to the organisation, and the agreement on the conditions of the Republic of Estonia acceding to the Organisation for Economic Co-operation and Development’s convention.

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