What is the OECD?
The Organization for Economic Cooperation and Development (OECD) is a unique forum where the governments of 34 democracies with market economies work with each other, as well as with more than 70 non-member economies to promote economic growth, prosperity, and sustainable development.
The Organization provides a setting where governments can compare policy experiences, seek answers to common problems, identify good practice and coordinate domestic and international policies.
It is a forum where peer review can act as a powerful incentive to improve policy and implement “soft law” – non-binding instruments, such as the OECD Principles of Corporate Governance – and can on occasion lead to formal agreements or treaties.
For more than 50 years, the OECD has been a valuable source of policy analysis and internationally comparable statistical, economic and social data. Most of OECD research is published and is available at the OECD online statistical portal.
Over the past decade, the OECD has further deepened its engagement with business, trade unions and other representatives of civil society. The U.S. Council for International Business (USCIB) represents the views of America’s private sector through its participation in the OECD’s Business and Industry Advisory Committee (BIAC). A member of USCIB is the current chair of BIAC. The U.S. trade union interests are represented on the OECD’s Trade Union Advisory Committee by the American Federation of Labor and Congress of Industrial Organizations (AFL-CIO) (USA) which currently holds the TUAC Presidency.
Today, OECD member countries account for 59 percent of world GDP, three-quarters of world trade, 95 percent of world official development assistance, over half of the world’s energy consumption, and 18 percent of the world’s population. Together with its sister agencies, the International Energy Agency (IEA) and Nuclear Energy Agency (NEA), the OECD helps countries – both members and non-members – reap the benefits and confront the challenges of a global economy by promoting economic growth, free markets, efficient use of resources, and energy security.