OECD

Many lands work together as a big team.

This group is called the OECD. It started a long time ago. It helps lands grow and trade.

Leaders meet to share good ideas. They talk about how to fix problems. They also help make rules for money. This helps people live better lives. It is a very helpful group.

The OECD is a group of 38 countries.

It helps countries grow their economies. An economy is how a country makes and uses money. The group started in 1961. It grew from an older group called the OEEC. That older group helped Europe rebuild after World War II.

Today, many OECD members are wealthy nations. They work together to solve common problems. They also share good ways to run a country. The group helps set rules for world trade. One big job is making tax rules. In 2021, many countries agreed on a new tax plan. This plan asks large companies to pay at least 15% in tax. This helps governments get more money to help people.

The OECD headquarters is in Paris, France. It is located at a place called the Château de la Muette. The group is also an observer for the United Nations.

The Organisation for Economic Co-operation and Development is a group of 38 countries.

It is an intergovernmental organisation. This means governments work together through it. The group helps countries grow their money and trade.

Members use the group to share ideas. They compare how they run their countries. They look for answers to common problems. This helps them find good ways to work. The group also helps coordinate rules for many nations.

Many members are developed and high-income nations.

They have a very high Human Development Index. This index measures how well people live. The 38 members have 1.38 billion people. Their average life expectancy is 80 years. The median age in these countries is 40. This is higher than the global average of 30. These countries also make up a large part of global wealth. They represent 62.2% of the global nominal GDP.

Their social welfare spending is about 21% of GDP.

The group has a long history in Europe.

It started as the OEEC in April 1948. This older group helped rebuild Europe after World War II. It used American aid called the Marshall Plan. The OEEC was based at the Château de la Muette. Leaders like Robert Marjolin and René Sergent helped lead it. By 1960, leaders wanted a more global mission. They held meetings at the Hotel Majestic in Paris. They wanted to help less developed countries too.

The OECD officially began in September 1961.

It grew from the OEEC. The founding members included many European nations. These were Austria, Belgium, Canada, and Denmark. France, West Germany, Greece, and Iceland also joined. Other founders were Ireland, Italy, Luxembourg, and the Netherlands. Norway, Portugal, Spain, Sweden, and Switzerland were there too. Turkey and the United Kingdom were also founders. The United States was a founding member.

Japan joined later in 1964.

Today, the OECD helps set important global rules. One big job is managing international taxes. In July 2021, many nations agreed to a new plan. This is called a global minimum corporate tax. It sets a tax rate of at least 15%. This stops companies from moving to places with tiny taxes. This plan helps governments collect more money. They hope to get $100 billion to $240 billion each year. The OECD also acts as an observer for the United Nations. This keeps the group connected to the whole world.

The Organisation for Economic Co-operation and Development, known as the OECD, is an intergovernmental organisation.

It consists of 38 member countries working together. The group aims to stimulate economic progress and world trade. Members describe themselves as committed to democracy and the market economy. They use the OECD as a platform to compare policy experiences. This helps them find answers to common problems and identify good practices. They also coordinate domestic and international policies among their members.

Most OECD members are high-income, developed economies. They possess a very high Human Development Index, which measures quality of life. The collective population of these members is 1.38 billion people. The average life expectancy in these nations is 80 years. The median age is 40, which is higher than the global average of 30. These nations hold massive economic power. They comprise 62.2% of global nominal GDP, totaling USD 49.6 trillion. At purchasing power parity, they represent 42.8% of global GDP, or Int$54.2 trillion.

The OECD has a deep history rooted in post-war Europe. It began as the Organisation for European Economic Co-operation, or OEEC. The OEEC was established in April 1948. Its primary goal was allocating American Marshall Plan aid. This aid helped rebuild Europe after World War II.

The OEEC was headquartered at the Château de la Muette in Paris. Leaders like Robert Marjolin and René Sergent served as Secretaries-General. By 1960, leaders wanted a more global mission. They held meetings at the Hotel Majestic to discuss this change. They wanted to help less developed countries, not just Europeans.

The OECD officially superseded the OEEC in September 1961.

The founding members included many European nations and North American countries. These were Austria, Belgium, Canada, Denmark, France, and West Germany. Greece, Iceland, Ireland, Italy, Luxembourg, and the Netherlands were also founders. Norway, Portugal, Spain, Sweden, Switzerland, Turkey, and the United Kingdom joined too. The United States was a founding member. Japan joined in 1964, followed by Finland, Australia, and New Zealand.

The organisation has expanded significantly through various stages of reform. After the Revolutions of 1989, the OECD helped Central European countries. They assisted with market economy reforms in the Visegrád Group. This led to the membership of Poland, Hungary, the Czech Republic, and Slovakia. South Korea and Mexico also joined between 1996 and 2000.

More recently, Chile, Estonia, Israel, and Slovenia joined in 2010. Latvia, Lithuania, and Colombia joined in later years. Costa Rica became a member in 2021. The OECD uses specific criteria for new members. These include being a "significant player" and having "mutual benefit."

One of the most important roles of the OECD involves international taxation. The organisation sets rules for how multinational companies pay taxes.

They publish the Transfer Pricing Guidelines to help allocate profits. In July 2021, a historic agreement was reached on a global minimum corporate tax. This policy sets a minimum tax rate of 15% for large corporations. It aims to stop companies from moving to countries with very low taxes. This change could help governments collect between $100 billion and $240 billion every year.

This ensures large companies pay their fair share of tax everywhere.

The OECD also performs multilateral surveillance to monitor economic trends. This involves regular peer reviews and policy assessments. They use committees and the Economics Department to study data. The organisation also creates specialized agencies to handle specific global issues. These include the International Energy Agency and the Financial Action Task Force. The OECD is also an official observer for the United Nations. This helps connect its economic work to the broader global community.