COLOMBIA'S PATH TO THE OECD: WHY, FOR WHAT AND HOW IT WAS DONE

Abstract

Brazil's accession to the Organisation for Economic Cooperation and Development (OECD) indicates that an important step has been taken to strengthen the OECD's principles and the practices of regional cooperation in Latin America. In order to provide some insights about the accession process, this article aims to share the Colombian experience in joining the organization. To this end, we will present a chronological overview of the process encompassing the shifts in the foreign policy guidelines of Juan Manuel Santos' government, the main reforms that have been carried out, and other sensitive aspects. The article concludes that is still too recent to measure the impact on issues such as international openness, domestic and foreign investments, market access, and economic growth since Colombia's accession to the OECD. However, it highlights that the decision to join the organization represents the will to move forward in adopting public policies regarding the organization's principles and to make them more transparent and submitted to international scrutiny.

Keywords

• colombia
• oecd
• accession process
• financial reforms