The Organization for Economic Cooperation and Development (OECD) is a forum composed of 37 countries dedicated to the promotion of converging standards on various topics, such as economic, financial, commercial, social and environmental issues. Its meetings and debates allow for the exchange of experiences and policy coordination in different areas of government action.
Among the various organizations that act on and influence the reality of States, companies and international organizations, the OECD is one of the largest. Some 200 committees, working groups and task forces receive more than 40,000 government officials, members of civil society, research institutions and representatives of the private sector at more than 2,000 annual meetings. Its Secretariat comprises 2,500 employees, publishes approximately 250 documents per year and manages a budget of more than 342 million euros.
The OECD seeks to coordinate definitions, measures and concepts, enabling comparison between countries facing similar problems. In addition to promoting common approaches to public policies, these characteristics allow the OECD to deal with controversial issues, which are difficult to define in organizations with a universal vocation, such as the United Nations and the WTO.
Several developing countries seek to join the OECD. For these countries, joining the organization would be equivalent to obtaining a "seal of approval", which could foster investments and consolidate economic reforms.
Brazil's cooperation with the OECD began in the 1990s. In recent years, the bilateral relationship has benefited from the Organization's decision to strengthen contacts with five selected emerging countries (Brazil, China, India, Indonesia and South Africa), the so-called "Key Partners". Today, practically all Ministries and many bodies of the federal and state public administration in Brazil are, in some way, involved in cooperation with the Organization. The Brazilian Government has participated in around 36 instances of the organization, with the status of "associate", "participant" or "guest", and has already adhered to 26 Recommendations and other instruments of the Organization.
In June 2015, Brazil and the OECD signed a cooperation agreement, which will allow them to deepen and systematize the bilateral relationship. The agreement institutionalizes Brazilian participation in various OECD forums and establishes mechanisms for defining future developments.
In the context of the implementation of the 2015 OECD cooperation agreement, Brazil requested adherence to the “OECD Codes of Liberalisation of Capital Movements and of Current Invisible Operations” in 2017. The Codes of Liberalisation are one of the main documents in the OECD's normative framework. The admission of Brazil as a member of the Codes would mean international recognition of the Brazilian government's recent efforts to promote an open, stable and attractive environment for foreign investment.
Countries that adhere to the Codes assume the obligation to eliminate, progressively and unilaterally, restrictions established by domestic legislation or practices that discriminate between residents and non-residents in the areas covered by the Codes, namely, foreign direct investments, capital movement and services provision. As a measure of clarity and in acknowledgment of the peculiarities of each country with regard to their ability to promote liberalization processes, members of the Codes may lodge reservations, at the time of their adhesion, that reflect aspects of their legislation incompatible with the obligations under the Codes or justified by national security or public health issues.