Russia: Step In OECD Membership Negotiations

Russia Takes Key Step Forward In OECD Membership Negotiations

Russia formally launched negotiations for its future accession to the OECD by submitting a detailed “Initial Memorandum” setting out where it stands in relation to the policy standards and practices that are basic criteria for membership of the Organisation.

Delivery of the memorandum by Russia’s Minister of Economic Development, Elvira Nabiullina, to OECD Secretary-General Angel Gurría marked a starting point for more detailed discussions involving specialised OECD committees.

Welcoming the memorandum, Mr. Gurría noted that by engaging in membership talks, Russia in effect commits to continue reforming its economy in line with international rules-based practices.

Ms. Nabiullina, in Paris to attend the annual meeting of the OECD’s governing Council at ministerial level, said: "This is an important event which confirms the strategic course of Russia towards integration into the world economic system and its key institutions."

The OECD invited Russia to open membership talks in 2007 as part of a strategy to broaden its membership. The formal launch of discussions, as governments around the world grapple with the most severe economic crisis for decades, coincides with new OECD economic projections that predict a 6.8% fall in Russia’s GDP this year followed by a return to 3.8% growth in 2010. A new OECD survey of the Russian economy will be presented by Deputy Secretary-General Pier-Carlo Padoan in Moscow on 15 July 2009.

In the context of the membership talks, Russia will now undergo detailed reviews by specialised OECD committees covering almost all areas of government, from corporate governance and fighting corruption to investment, competition, labour policy and the environment. In the course of this process it will be called upon to show how it complies with more than 200 OECD legal instruments and standards.

Mr. Gurría expressed his conviction that these reviews will provide valuable support for ongoing reforms in Russia. “The role of the OECD is to help its member countries and others develop appropriate and effective policies in order to improve the workings of market economies,” he said. “Russia has much to bring to the party in terms of its potential contribution to world trade.”

Russia is taking part in this year’s OECD ministerial meeting, focused on “The Crisis and beyond: building a stronger, cleaner, fairer world economy”, along with the four other countries negotiating accession to the OECD -- Chile, Estonia, Israel and Slovenia -- and the five that participate in a process of “enhanced engagement” with the OECD -- Brazil, China, India, Indonesia, South Africa.

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