Israel accepted to the OECD

After years of deliberation the OECD- Organization for Economic Cooperation and Development, the ivy club of countries, has accepted Israel as a member state. Acceptance to the OECD is a vote of confidence not only in the Israeli economy but in Israeli governance and policy.

In order to become a member state, Israel has undergone an intensive review, producing more than 20 policy papers to the organization’s committees. In a statement to the press  the OECD commended Israel for the framework and data submitted to committees: “The OECD has learned from Israel’s experience in certain areas, such as in the policy areas of innovation and scientific and technological policy. Total civilian R&D expenditures were 4.7 % of GDP in 2007, giving Israel the highest R&D intensity in the world. It accounts for the third highest number of scientific articles per million population and has an impressive patenting performance in science and technology. Performance in certain high technology sectors, notably biotechnology, is also particularly strong.”

As part of the accession process, Israel was asked to review it’s policies and affirm OECD treaties including the  OECD Anti-Bribery Convention and a re-examination of environmental priorities.

The vote for Israel’s admittance was received unanimously by all member states, serving as a vote of confidence in Israel’s economical and social horizons:” This decision is a badge of honor for Israel and we take it upon ourselves with pride”. Stated Yuval Steinitz, Israel’s Minister of Finance.

For further reading please see this A.P article

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