Headquarters: Paris, France.
The Organisation for Economic Cooperation and Development (OECD) is an intergovernmental economic organisation, essentially a forum, founded in 1961 to stimulate economic progress and world trade. It has 36 member countries, but engages with other countries too. Most OECD members are high-income economies.
The predecessor of OECD, Organisation for European Economic Cooperation (OEEC) originated in 1948 to administer American and Canadian aid in the framework of the Marshall plan for the reconstruction of Europe after World War II.
Organisations and Activities under the OECD framework
- International Energy Agency (IEA) is established under OECD framework.
- PISA – Programme for International Student Assessment is a worldwide study in member and non-member nations, conducted by OECD, to evaluate scholastic performance of 15 year olds in maths, science and reading.
- International Transport Forum
- Intergovernmental think-tank on transport policy issues
- India is a member.
- Financial Action Task Force (FATF) is headquartered at OECD, France. It works to promote adherence to anti-money laundering (AML) and anti-financing of terrorism (AFT) norms by the banks and financial institutions.
- BEPS (Base Erosion Profit Shifting) Action Plan, and CbCR (Country by Country Reporting) are OECD initiatives to address tax evasion.
- Nuclear Energy Agency – an intergovernmental agency.
- India is not a member.