President Dalia Grybauskaitė

The President to sign Lithuania’s accession agreement to the OECD

2018-05-28

Monday, May 28, Vilnius On Wednesday, May 30, President Dalia Grybauskaitė is leaving for Paris where she will sign an agreement on Lithuania’s accession to the Organization for Economic Co-operation and Development (OECD) Convention. Lithuania will officially become the 36th member of the organization that unites the strongest and the most advanced economies of the world.

President Emmanuel Macron will open the accession ceremony as France now holds the OECD presidency.  Dalia Grybauskaitė will sign the accession agreement at the Ministerial Council Meeting, the main decision-making body of the OECD.

OECD membership is the crowning achievement of Lithuania, finalizing its establishment in the most influential international organizations. Being part of the OECD club will not only raise our national prestige but will also provide concrete benefits as Lithuania will be able to receive OECD’s high-level expert assistance, secure more favorable investment rating, receive cheaper loans and access global trade markets. Besides that, Lithuania will be able to follow the best OECD practice in national reforms and take part in developing best governance practices.

Lithuania is among those countries that have fulfilled membership requirements the fastest: it managed to do all membership related homework in three years from the start of the procedure. Under the OECD recommendations, Lithuania has reformed forestry and road maintenance enterprises, depoliticized the management of state owned enterprises and enhanced fight against corruption. The President initiated amendments to the Penal Code, which introduced a tenfold increase of fines for corruption related crimes.

The accession agreement to the OECD Convention, signed by the President, will have to be ratified by the Seimas and deposited with the Government of France. Columbia joins the OECD together with Lithuania.

On Wednesday, in Paris, the President will meet with UNESCO Secretary-General Audrey Azoulay to discuss UNESCO’s reform and role in protecting the freedoms of expression and media.

Press Service of the President

Last updated 2018.05.30 14:42

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