Vietnam is exploring the possibility of joining the Organisation for Economic Co-operation and Development (OECD).

Prime Minister Pham Minh Chinh and OECD Secretary-General Mathias Cormann. Source: VNA

This was stated by Prime Minister Pham Minh Chinh during his meeting with OECD Secretary-General Mathias Cormann on January 22, on the sidelines of the World Economic Forum (WEF) in Davos, Switzerland.

To enhance the depth and effectiveness of Vietnam-OECD cooperation, the Prime Minister expressed Vietnam’s interest in studying the process of joining the OECD. He emphasized that Vietnam would need the organization’s support in meeting the standards and procedures required for membership.

Prime Minister Pham Minh Chinh also requested Secretary-General Mathias Cormann to direct OECD’s specialized departments to share expertise, provide policy advice, and support Vietnam in improving its competitiveness in line with OECD’s global governance standards. He also called for the OECD’s assistance in preparing and publishing key economic reports that would serve as a foundation for Vietnam’s long-term policy planning.

With a history spanning over 60 years, the OECD currently has 38 member countries, mostly high-income economies, in  North America, South America, Europe, and the Asia-Pacific region. It serves as a platform for its members and other nations to discuss and share experiences in addressing economic challenges and broader global issues.

Secretary-General Mathias Cormann acknowledged Vietnam as a dynamic economy playing an increasingly important role in Southeast Asia. He reaffirmed OECD’s commitment to strengthening cooperation and supporting Vietnam in its policy research and development efforts. He also agreed to help  Vietnam accede to the OECD Declaration on International Investment and Multinational Enterprises.