Estonia hopes to wind up talks with OECD in two years

21.02.2008

TALLINN, Feb 21, BNS - Estonia wants to bring accession talks with the Organization for Economic Cooperation and Development to conclusion within two years and is eyeing also membership in the International Energy Agency, the foreign minister said today.

OECD membership will enable Estonia to make a better assessment of its economic prospects and find solutions to problems in consultation, Urmas Paet said.

Secondly, decisions made by the OECD frequently affect also countries that do not belong to the organization, he observed. The OECD for instance determines the principles of development cooperation followed by all donor countries, including European Union members, he said.

Furthermore, the OECD is at present working on a legal framework of cyber security which is of great interest to Estonia.

The organization also is a valuable forum for formal and informal intercommunication of top experts in different fields.

Paet said Estonia began preparations for joining the OECD more than a decade ago.

Estonia received an invitation to accession talks together with Chile, Israel, Russia and Slovenia in May 2007. In December the OECD Council approved the action plan of Estonia's accession.

OECD, a forum of industrial countries headquartered in Paris, was founded by 19 countries in 1961 and now has a membership of 30. The main criteria of membership are an open market economy, democratic pluralism and respect for human rights.

Paet said that after entering the OECD Estonia will make a bid for membership in the International Energy Agency that advises member states on energy policies and promotes cooperation with other major energy consumers and producers.

Tallinn newsroom, +372 610 8861, sise@bns.ee