Organisation for Economic Co-operation and Development (OECD) - Establishment & Functions

Organisation for Economic Co-operation and Development (OECD) - Establishment & Functions

• Established in 1961

• Type of organization – international economic organization

• Headquarter - Chateau de la Muette in Paris, France.

• Current Secretaries-General - Jose Angel Gurria

History -

Originated in 1948 as the Organisation for European Economic Co-operation (OEEC), led by Robert Marjolin of France, to help administer the Marshall Plan after end of WW-II.

Over the period membership was extended to non-European states. Most OECD members are high-income economies with a very high Human Development Index (HDI) and are regarded as developed countries.

Agencies of OECD

1. OECD Development Centre (1961)
2. International Energy Agency (IEA, 1974)
3. Financial Action Task Force on Money Laundering.

Members – 34 (India is not a member country)

Functions

1. Co-ordinate welfare activities of member country
2. Sustainable economic development and raising standard of living
3. Expansion of world trade