Bulgaria Confirms Bid for Full OECD Membership

November 22, 2012, Thursday // 06:58
Bulgaria: Bulgaria Confirms Bid for Full OECD Membership

Bulgaria confirmed Thursday its desire to become a full-fledged member of the OECD through a letter from Prime Minister Boyko Borisov.

The letter was handed to OECD Secretary General Angel Guria by Bulgaria's Ambassador to France Marin Raykov, according to the press office of Bulgaria's Foreign Ministry.

Raykov emphasized Bulgaria's budget discipline and macroeconomic stability against the backdrop of the problems faced by the country's neighbors.

"OECD membership contributes to predictability and trust, which are important factors in attracting foreign investors," he declared.

The OECD Secretary General noted that OECD accession was not a one-off action but a process, which meant that Bulgaria had to deepen relations with OECD structures and extract benefits from the cooperation.

The OECD was officially formed on September 30, 1961, the media statement of Bulgaria's Foreign Ministry reminds.

The main goal of the Organisation for Economic Co-operation and Development (OECD), which brings together 34 states, is to build strong economies in its member countries, improve efficiency, hone market systems, expand free trade and contribute to development in industrialized as well as developing countries.

The OECD provides a platform compare policy experiences, seek answers to common problems, identify good practices, and co-ordinate domestic and international policies of its members.

Bulgaria filed an application for OECD membership in 2007.

OECD membership will increase confidence in the Bulgarian economy on the part of the international financial community and investors.

It will also strengthen Bulgaria's role as a recognized economy in Southeastern Europe which actively participates in policy formation and the implementation of good practices on a regional level.

Bulgaria has been a full-fledged member or has had observer status at a number of working groups and committees of the OECD.


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