Lithuania finalizes OECD membership talks

Foto: Scanpix

Lithuania on Monday officially finalized its membership talks with the Organization for Economic Cooperation and Development (OECD).

The negotiations were finalized at a meeting between Lithuania's President Dalia Grybauskaitė and OECD Secretary General Angel Gurria and a session of the OECD Council, the president's press service said.

Lithuania opened its OECD accession talks three years ago and has since implemented all key reforms to promote economic development and improve the well-being of people. At the end of May, the OECD Council of Ministers should make the final decision on Lithuania's entry. Lithuania will become the 36th member of the prestigious organization.

In Grybauskaite's words, OECD accession demonstrates Lithuania's democratic and economic stability, its presence among influential countries and a strong voice on the international political arena.

The membership will open new opportunities for the Baltic state, for instance, it will improve the country's economic and financial rating, consolidate its influence in the European Union (EU) and other international organizations, as well as give access to top-level assistance of OECD experts, said the president.

OECD was founded in 1961 to speed up international economic recovery and trade relations among countries, as well as step up social protection of people.

Source: BNS
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