Lithuania opens OECD membership talks, expects to join in 2-3 years

The start of the negotiations with Lithuania and Costa Rica was announced at a meeting of the organization’s Ministerial Council in Paris.

“We welcome the progress made by Colombia and Latvia in their ongoing accession processes, and the opening of accession discussions with Costa Rica and Lithuania,” reads the ministerial statement.

Lithuania’s Prime Minister Algirdas Butkevičius told BNS from the French capital that Lithuania could achieve fully-fledged membership within two or three years. In his words, the membership will enhance investor confidence in the state and will give access to professional analytical information.

“The analytical work done by the organization is of extremely high level, and the information is first of all shared with OECD members. Accession to the club of wealthy countries automatically steps up confidence in a country. This reflects in the attraction of foreign investments,” the prime minister told BNS in a telephone interview from Paris.

Poland was accepted to the organization in 1996, Estonia joined in 2010, while Latvia started its talks in 2013 and expects full membership next year.

Often dubbed the rich club, the Organization for Economic Cooperation and Development was established by the US in 1960. Its tasks include harmonization of economic and social policies, promotion of economic progress, international trade and preparation of thorough economic forecasts.