When was the OECD founded and what was its purpose?
The OECD was founded in September 1961, superseding the Organisation for European Economic Co-operation. Its founding convention, signed on the 14th of December 1960, set out three core aims: achieving sustainable economic growth and rising living standards in member countries, contributing to economic expansion in non-member countries, and expanding world trade.
How many member countries does the OECD have?
The OECD has 38 member countries. Since 2024, their collective population is 1.38 billion people, and they collectively account for 58.4% of global nominal GDP.
Where is the OECD headquartered?
The OECD is headquartered at the Chateau de la Muette in Paris, France. This is the same location where its predecessor, the Organisation for European Economic Co-operation, was also based.
What is the OECD global minimum corporate tax agreement?
On the 1st of July 2021, finance officials from 130 countries agreed on an OECD-backed global minimum corporate tax rate of 15%. If a country taxes a multinational below that rate, the difference is collected by the company's home-country government. Governments hoped to recover an estimated 100 billion to 240 billion dollars in annual tax revenue lost to low-tax jurisdictions.
Who is the current Secretary-General of the OECD?
Mathias Cormann of Australia has served as Secretary-General of the OECD since the 1st of June 2021. Secretary-General selections require consensus among all member states.
Why did the OECD suspend Russia?
The OECD halted membership talks with Russia in March 2014 following Russia's annexation of Crimea. On the 25th of February 2022, the OECD formally terminated Russia's accession process after it invaded Ukraine. Belarus was also suspended from all OECD participation in March 2022.