The Organization for Economic Cooperation and Development (OECD) adopted for the first time a Strategic Framework for Latin America and the Caribbean with the aim of intensifying its cooperation in the region and consolidating a platform for shared public policies. The initiative is part of the diplomatic push led by Costa Rica and also coincides with the organization of the first OECD Local Development Forum in Latin America, which will take place July 8-11 in Barranquilla.
LEA TAMBIÉN
The idea is that the roadmap adopted by the OECD will enable closer cooperation between the region and the multilateral organization.
It also seeks to further develop the historic relationship between the OECD and Latin American countries, which has been growing in terms of participation, regulatory adherence, and political collaboration.
Barranquilla was chosen as the venue for the OECD Local Development Forum. Foto:Suministrada
For Barranquilla, the OECD Forum will be an international window to showcase the transformations it has made, exchange experiences, and project the city’s local and international leadership.
In the case of the Strategic Framework, the idea is to maximize the value and impact of the OECD’s work in the region, providing solutions to the challenges faced in this part of the world.
The proposal is based on the priorities already defined by the OECD Regional Program for Latin America and the Caribbean, which seeks to increase productivity, promote social inclusion, strengthen democratic institutions, and ensure environmental sustainability.
This policy also seeks to enable countries to incorporate new dimensions focused on digitalization, artificial intelligence (AI) governance, the use of critical minerals, regional integration, and the consolidation of sustainable value chains.
According to the Organization, Latin America and the Caribbean is an increasingly important player in the global economy.
It has a population of over 650 million people and a gross domestic product that, taken together, positions the region as the fourth largest economy in the world. Therefore, its transformative potential has motivated the organization to rethink its institutional priorities.
“The adoption of this Strategic Framework reflects the growth and strengthening, over the last three decades, of the partnership between the OECD and Latin America, a region of great importance that is a key priority on the Organization’s global agenda,” said Mathias Cormann, Secretary-General of the OECD.
He added that this “new Strategic Framework seals the joint commitment of all our members to strengthen our collaboration with the region.”
The announcement was made during the closing session of the OECD Ministerial Council Meeting in Paris on June 3 and 4, under the chairmanship of Costa Rica.
Mathias Cormann is the Secretary-General of the OECD. Foto:AFP
This new roadmap builds on the priorities set out in the OECD Regional Program for Latin America and the Caribbean launched in 2016 and seeks to consolidate a more ambitious platform for collaboration.
The framework also incorporates an operational dimension through the preparation of an Implementation Plan to be presented at the 2026 Ministerial Meeting, with the active participation of the countries of the region and other institutional partners.
In line with this strategy, the OECD will also strengthen its presence in regional integration processes and intergovernmental summits, such as the forum in Barranquilla, where it will also strengthen its ties with the private sector, academia, civil society, and Latin American parliaments.
The Local Development Forum will seek to bring together local leaders, national authorities, multilateral organizations, and representatives of the private sector to discuss how territorial development can be a catalyst for inclusion, sustainability, and competitiveness. More than 50 international delegations are expected to attend.
This initiative is aligned with the objectives of the Strategic Framework, which seeks to decentralize the focus of public policies and highlight the transformative potential of intermediate cities and subnational governments.
The components of the strategic framework
According to the OECD, the Strategic Framework is structured around five pillars:
- Structured and sustainable collaboration: which seeks to consolidate permanent spaces for cooperation between the OECD and Latin American countries, including national focal points.
- Thematic work tailored to regional priorities: which seeks to address challenges such as productivity, climate change, digital governance, informal labor, population aging, and innovation through comparative analysis, policy recommendations, and technical cooperation.
- Institutional coordination: seeking to strengthen cooperation with multilateral organizations, development banks, regional networks, and knowledge platforms.
- Multisectoral participation: to include non-governmental actors such as businesses, universities, the media, and social organizations in the agenda of the region and the organization.
- Communication and visibility: to develop outreach strategies tailored to different audiences, to increase awareness of the organization’s work and standards.
Currently, five Latin American countries are full members of the OECD: Mexico (1994), Chile (2010), Colombia (2020), Costa Rica (2021) and, most recently, Brazil (candidate since 2022).
Other countries such as Peru and Argentina maintain active links with the organization through sectoral cooperation programs and peer review processes.
Meeting between IDB President, Ilan Goldfajn, and OECD Secretary-General, Mathias Cormann Foto:Ocde
Partnership with the IDB
In the same vein and seeking to support nations, the OECD signed an agreement with the Inter-American Development Bank (IDB) to strengthen support for countries in the region interested in aligning themselves with the organization’s standards and also interested in becoming full members.
Through this agreement, the IDB will offer technical and financial cooperation to support both countries that are already in the process of accession and those seeking to advance institutional, regulatory, and governance reforms that will bring them closer to the OECD system.
This collaboration will include public policy analysis, civil service strengthening, training of officials, and development of innovation strategies.
“This agreement expands the IDB’s role in supporting Latin American and Caribbean countries that are collaborating with the organization by providing tools to strengthen institutions, improve regulatory frameworks, and meet global standards. This partnership is a key step in the IDB’s effort to continue connecting the region with the world,” said IDB President Ilan Goldfajn.
For his part, OECD Secretary-General Mathias Cormann stressed that the IDB-OECD partnership will further joint analysis on governance, regulatory reform, and integrity in the region:
“I am pleased to take this cooperation one step further and appreciate the IDB’s continued support as countries in the region advance their alignment with OECD standards and good practices,” he said.
The idea is that this agreement will also include coordination with IDB regional programs such as America at the Center, an initiative that seeks to address common and cross-border challenges in the region by promoting productivity, regional integration, adaptation to climate change, and social development, especially for young people.
There is also the One Caribbean initiative, which seeks to promote sustainable development in the Caribbean and small island developing states, together with economic growth, social inclusion, and environmental protection.
In the same vein, there is the ‘Amazonia Siempre’ project, which addresses the local population, the bioeconomy, and infrastructure, with the intention of promoting the inclusion of women, indigenous peoples, Afro-descendants, and local communities.
Amazonia Siempre seeks to improve regional coordination to accelerate sustainable development. Foto:Tania Góez Zambrano
Likewise, technical collaboration will be promoted on platforms such as the Korea-LAC Trade and Innovation Forum, which seeks to strengthen trade ties, encourage investment, and promote technological innovation between Korea and the Latin American and Caribbean region.
In addition, there is the OECD International Transport Forum, which is composed of 64 member countries and seeks to deepen understanding of the role of transport in economic growth, environmental sustainability, and social inclusion, as well as to raise public awareness of the importance of transport policies.
There is also the Latin America and Caribbean Contact Group of Business at OECD, which is a meeting point for companies and business organizations interested in OECD activities and seeks to promote dialogue between the private sector and the organization with the aim of strengthening smart, sustainable, and inclusive economic growth.
LAURA LESMES
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