OECD Full Form | What Does OECS Stand For?

OECD: Organization for Economic Co-operation and Development

OECD Full Form

OECD full form stands for Organization for Economic Co-operation and Development. It is an intergovernmental economic organization with 37 member countries, established in 1961 to promote economic development and world trade.

It is a platform of countries committed to democracy and a market economy, which compares policy experiences, finds answers to common problems, identifies good practices, and coordinates policies for a domestic and international membership of its members.

Brief Explanation

In 1948, the OECD was started as the Organization for European Economic Cooperation (OEEC), headed by Robert Margolin of France. In 1961, the OEEC was transformed into an organization for economic cooperation and development, and its membership was extended to non-European states. The OECD is headquartered in Chateau de la Mate, Paris, France.

In general, OECD members are high-income economies with a high Human Development Index (HDI) and are considered developed countries. The OECD is an official observer of the United Nations. The OECD was being funded at various rates in collaboration with member countries and had a total budget of 6 386 million in 2019.

Although the OECD does not have the authority to implement its own decisions that require the unanimous vote of its members, it is largely determined by the publication as well as the annual assessment and ranking of member states. Recognized as one of the most influential publishers. Economic data.

Structure

The structure of the OECD full form (Organization for Economic Co-operation and Development) consists of three main elements:

OECD member countries, represented by a delegation led by an ambassador. Together, they form the OECD Council. Member countries work collectively through the Council to guide and guide the work of the organization.
OECD Substances Committees, which are one for each field of the OECD, as well as their various sub-organizations. The committees oversee all work on each subject (publication, task force, conference, and so on).
OECD Secretariat provides support to the Standing and Supporting Committees headed by the Secretary-General. It is organized in a directorate with around 2,500 employees.

What Is The Full Form Of OECD?

OECD full form stands for Organization for Economic Co-operation and Development. It is an intergovernmental economic organization with 37 member countries, established in 1961 to promote economic development and world trade.

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