On 3–4 June, ministers from member and partner countries of the Organisation for Economic Co-operation and Development (OECD) met in Paris to discuss the role of industrial policy in promoting economic growth and competitiveness. The Estonian delegation was led by Kenneth Kopamees, Director General of the Department of External Economic Policy and International Economic Organisations at the Ministry of Foreign Affairs.
According to Kopamees, the OECD’s strength lies in its continued enlargement. “We consider it important that progress made on the path to membership is duly recognised and that the countries best prepared to join the OECD do so as a priority, including Romania, Croatia and Bulgaria. Estonia also supports Ukraine’s aspirations to join the OECD,” Kopamees said.
Kopamees noted that the OECD’s historic role in rebuilding Europe after the Second World War gives the organisation an important place in supporting Ukraine’s recovery.
“Russia’s war of aggression against Ukraine has not diminished the firm commitment of OECD countries to defending Ukraine’s territorial integrity, sovereignty and freedom. The OECD continues to support Ukraine’s recovery, reform and modernisation efforts, and the organisation must also play an important role in post-war reconstruction,” he added.
The discussions also addressed the impact of industrial policy on competitiveness. Kopamees stressed that small states cannot compete with major powers in providing extensive state aid and that it is therefore essential to ensure a business-friendly environment. “The OECD’s work helps to increase transparency in the industrial policies of both member and non-member countries. A business-friendly environment must be the foundation for attracting investment,” Kopamees said.
On 8 June, the OECD will publish its economic forecast for Estonia, which will be presented in Tallinn by the OECD’s Chief Economist, Stefano Scarpetta.
Background
The OECD is an organisation of industrialised democratic countries, headquartered in Paris. It was established in 1961 as the successor to the Organisation for European Economic Co-operation. Estonia joined the OECD in 2010. The organisation currently has 38 member countries and is headed by Secretary-General Mathias Cormann.
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