Formation of the OECD in 1960

Name: Formation of the OECD in 1960
Start: 1960-12-14
Location: Unspecified

The Birth of the OECD

OECD: A New Era for Economic Collaboration

The Organization for Economic Cooperation and Development (OECD) was formed on September 30, 1961, with roots tracing back to 1960, when 20 countries signed the Convention on the OECD. This pivotal alliance emerged from the desire to foster international economic growth and improve living standards, primarily among *European* and *North American* countries.

Key Objectives of the OECD

The primary goal of the OECD is to promote policies that enhance economic growth, stability, and trade among member countries. Through its collaborative framework, the OECD aims to tackle pressing economic challenges while ensuring better social conditions for all member nations. This organization provides a platform for unprecedented discussions on economic governance.

Impact and Evolution of the OECD

OECD's Role in Shaping Economic Policy

Over the decades, the OECD's influence has extended beyond its original members. The organization has played a crucial role in addressing economic disparities between developed and developing nations. By sharing best practices and economic data, the OECD assists member and partner countries in crafting effective economic policies.

Modern-Day OECD Initiatives

Today, the OECD is at the forefront of vital global issues, such as *sustainable development*, *education*, and *digital economy*. With 38 member countries as of 2021, the organization continues to adapt to the evolving economic landscape, conducting comprehensive research and providing influential data and analysis.

Fun Fact

Did You Know? The OECD’s Unique Structure

Unlike many other international organizations, the OECD adopts a consultative approach, allowing member nations to discuss policy recommendations openly before making decisions. This method fosters a collaborative spirit beyond political differences.