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Friday 25.05.2018 | Name days: Junora, Anšlavs
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Latvia to receive new recommendations from OECD

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Baltic news, News from Latvia, BNN.LV, BNN-NEWS.COM, BNN-NEWS.RUHaving signed the agreement on joining the Organization for Economic Cooperation and Development, Latvia expects new recommendations from the organization soon, said Prime Minister Maris Kucinskis in an interview to LNT.

The politician admits that there are still several recommendations that have yet to be realized. For example, the government still has to finish the formation of a capital associations advisory council. Nevertheless, it is likely that Latvia will soon receive multiple new recommendations from OECD.

The prime minister believes that residence denounce their country too often. «Even though Latvia has become a member of the rich countries club, we have to continue moving forward, because no one is interested in staying in one spot,» – said Kucinskis, reminding of the government’s goal to achieve economic growth of 5% in 2018.

As it is known, Maris Kucinskis and OECD Secretary General Angel Gurría festively signed the agreement regarding Latvia’s joining of OECD. It is expected that after the signing of the agreement and its ratification in the Saeima, Latvia will become the organization’s 35th member state.

The signing of the agreement will also be attended by the European Commission Vice-President Valdis Dombrovskis. He will represent the European Commission during the meeting of OECD ministers.

It is expected that membership in the world’s most developed economies bloc will provide Latvia tangible benefits, including improved credit rating and reduced state debt maintenance costs.

In addition, membership in OECD means better standards in the field of entrepreneurship, better investment environment and protection of investments. After joining OECD, Latvia will be added to the organization’s political reports and studies, statistics and other databases. Reports compiled by OECD are trusted by foreign investors and international financial institutions.

Membership in OECD also offers other benefits, including improved corruption combating capabilities, direct economic ties with other OECD member states and better recognition on the international arena.

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