The agreement on Wednesday passed the first reading in the Seimas.

"As a full-fledged member, Lithuania will seek to tap into the OECD's potential to strengthen its economy and financial sector, to reform education and social employment policies, and to increase the efficiency of anti-corruption, public administration and regulatory policies," Deputy Foreign Minister Albinas Zananavičius told the parliament.

The OECD membership will initially cost Lithuania around 2.8 million euros per year, with the fee expected to go down to 1.8 million euros from 2022, he said.

The government wants the Seimas to ratify the agreement by July 5, when OECD Secretary General Angel Gurria is scheduled to visit the country.