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  The entry of
Costa Rica to OECD shows that the country has
the optimal conditions as a safe and attractive
country for investment.
/ Economic Cooperation and Development courtesy photo. |
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Published Thursday, August 6, 2020 of joining OECD, says AmCham By the A.M. Costa Rica staff In May, President Carlos Alvarado announced the signing of the accession agreement to the Organization for Economic Cooperation and Development, OECD. However, almost three months later, the government has yet to send Congress the international agreement for the approval, claimed the Costa Rican-American Chamber of Commerce (AmCham), on Wednesday. AmCham requests the government to speed up the process of joining the OECD, as well as recommending that the Ministry of Foreign Trade (Comex) be the organization in charge of representing the country before that organization. "We are going through difficult times that require us to use the best resources in the country to face the big challenges that are ahead," said Gisela Sánchez, president of AmCham. According to Sánchez, the entry of Costa Rica to OECD shows that the country has the optimal conditions to present ourselves as a safe and attractive country for investment. OECD member countries account for three-quarters of total global trade and 63% of global gross domestic product (GDP). This reaffirms the importance of promptly ending Costa Rica's wait by sending the international agreement to Congress for them to approve and implement, AmCham said in its statement. In July, the President of the Competition Committee of the OECD, France Frédéric Jenny, listed the goals for Costa Rica before being a member of the organization. According to the report, "Evaluation of the Law and Competition Policy of Costa Rica" the recently approved Competition Law No. 9736 significantly reformed the country's competition regime. But, the law won’t go into effect reflecting changes for the benefit of economic agents and consumers until its implementation. And this would require for Congress to read and approve the international agreement. The OECD published the result of the examination that the country underwent on Dec. 3, 2019. The report also pointed out the need for actions such as the appointment of full-time commissioners dedicated exclusively to their functions, through the selection mechanism based on a public record competition. Furthermore, the OECD indicates the need to guarantee the adequate implementation of measures that allow technical, administrative, political and financial independence to the Commission to Promote Competition, known as Coprocom. The OECD stressed the importance of this authority having the necessary experts and financial resources. According to the OECD, after the country's accession to this organization, the Competition Committee will periodically monitor the country's progress with respect to the implementation plan presented by the competition authorities. An increase in competition will allow for faster growth in the country, Frédéric Jenny said. The country must accelerate the reform path in pursuit of greater productivity in the different sectors, the OECD said. As well as improve the use of public resources in government institutions. The government continues their efforts in making the country the 38th member of this organization. The OECD’s goal is to stimulate economic progress and world trade. Among the 37 OECD member countries are the United States, Canada, United Kingdom, Australia, Ireland, Germany, Mexico, Chile and Colombia. --------------------- How could the country speed-up the process to be part of the OECD? We would like to know your thoughts on this story. Send your comments to news@amcostarica.com |
