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Focus on Israel in the latest OECD Observer Magazine

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Thursday, August 18th, 2011

A year ago, at the 2010 OECD Ministerial Council Meeting, Israel was formally invited to become a member of the OECD, following three years of accession negotiations. Israel duly became the organisation’s 33rd member country a few months later, in September 2010. The OECD Observerasked the minister of finance, Yuval Steinitz, to outline his views on the country’s economic challenges.

How important has joining the OECD been for Israel and what can membership bring your country?
Becoming a member country of the OECD has already led to economic improvements and enhanced Israel’s economic image, as well as improved the functioning of various sectors in Israel’s society and economy, including environment, education and employment. The improvement and upgrading process is continuing as part of the government’s commitment to ongoing peer review by the organisation and to adjust its regulation policy to OECD standards.

The process of joining the OECD has already encouraged us to adopt a variety of reforms and norms. We are building on the experience of the OECD member countries in forming government policy and implementing reforms, such as on the environment. OECD membership is a driving force for continual improvement of government efficiency through annual reports, peer reviews and the organisation’s wealth of expertise. We plan on taking full advantage of what the OECD has to offer us. The OECD is also a unique forum in which we can discuss national experience and best practices, and find solutions to common problems.

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