CINDE Announces: Costa Rica, the Fourth Latin American Country to Join the OECD

SAN JOSE, Costa Rica, May 20, 2020 /PRNewswire/ -- The Organisation for Economic Co-operation and Development (OECD) extended an invitation to Costa Rica to become the 38th member state of the organization.

This achievement was the result of a broad country strategy to uphold its place as one of the main global investment destinations, emphasizing a value proposition for people, the planet and prosperity.

Costa Rica, globally recognized as a country highly committed to sustainable development and the decarbonization of its economy by meeting the highest standards of developed countries, will become the fourth Latin American country to join the prestigious list of OECD countries.

The President of the Republic, Carlos Alvarado, stated that "the country's accession to the OECD is a milestone in the history of Costa Rica", and highlighted the efforts of recent governments and the Legislative Assembly to achieve this. "We can show the world that our country is committed to the highest and most demanding international standards, that we can work together to transform our country and that we can inspire other nations to learn from our experience and good practices," said President Alvarado.

The Minister of Foreign Trade and coordinator of the accession process, Dyalá Jiménez Figueres, acknowledged the work undertaken in recent years to achieve Costa Rica's accession to the organization.

"Thanks to the dedicated work of an inter-institutional team made up of more than 40 ministries and institutions, and to the support and contributions of the private sector and civil society, for almost eight years now we have achieved very important structural reforms that will change the lives of Costa Rican families in the medium and long term," she said.

Jorge Sequeira, Managing Director of the Costa Rican Investment Promotion Agency, CINDE, congratulated the country for achieving its accession and noted that "this is a further step towards firmly positioning Costa Rica in the knowledge-based economy and moving the country forward on the road to the fourth industrial revolution. Costa Rica proves once again to be up to date with current global demands, and that it stands out in Latin America for giving companies the opportunity to grow their businesses in an environmentally sustainable manner."

Once the country is ratified as a member of the organization, Costa Rica has committed to continue improving in several areas, and the organization will follow up on the specific completion of action plans and implementation of reforms. Similarly, the country will continue to be subject to periodic reviews, as are the other OECD members.

In addition, Costa Rica will be able to participate on equal footing in the more than 300 committees and working groups of the OECD that decide and influence the development of innovative solutions to common challenges, such as the COVID-19 crisis, as well as issues associated with climate change, the fourth industrial revolution, and global chains, among others.

Costa Rica stands out as one of the oldest and most solid democracies on the continent and as a country that has achieved great economic, social and political stability during the last decades. The country is home to more than 300 multinational companies operating in the life sciences, services, advanced and light manufacturing and food industry sectors.

With its accession, Costa Rica will join Mexico, Colombia and Chile as the only Latin American member countries of the prestigious organization.

About CINDE

CINDE is a private, non-profit organization that has been committed to Costa Rica's sustainable development and social progress for 38 years, through the attraction of foreign direct investment in manufacturing industries and high value-added services that generate quality jobs, knowledge transfer and productive linkages. CINDE also collaborates in strengthening the Costa Rican business climate in a way that fosters the growth of valuable activities in the country, improving the preparation of local talent, and generating employment and greater opportunities for its population in the different communities of the country.

Press information

To arrange interviews on this topic with the President of the Republic of Costa Rica or the Minister of Foreign Trade of Costa Rica, please contact:

Carlos Morales cmorales@cinde.org [mailto:cmorales@cinde.org]

Fabiola Domínguez fdominguez@cinde.org [mailto:fdominguez@cinde.org]

Web site: http://www.cinde.org/

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