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The OECD: an increasingly Latin American organization? The advantages and disadvantages of joining

Date: 03/06/2020

Author(s): Borja Santos Porras

Publication: América Economía

On May 15, Costa Rica received its official invitation to join the OECD after passing the technical evaluations and will become the body’s 38th member. Costa Rica will be the fourth Latin American country (and the first Central American country) to join the OECD after Mexico (1994), Chile (2010) and Colombia (April 2020).

Accession talks for Costa Rica began on April 9, 2015, when the roadmap to follow was designed. The remaining steps consist of signing and approving the accession protocol, presenting the legislation to the OECD and paying the incorporation fee. Although the process should end in 2020, taking into account other cases like Colombia (which took seven years to join), it is possible that Costa Rica’s accession will conclude in 2021 or 2022.