Why is Bulgaria applying for membership in the OECD
Our accession to the OECD will not only provide additional recognition for the stability, potential and attractiveness of the Bulgarian economy to investors, but will also serve as a guarantee for Bulgaria’s permanent commitment to the development and implementation of policies for social and economic well-being. The main objectives set out in Article 1 of the OECD Convention, namely the achievement of the highest sustainable economic growth and employment and a rising standard of living, combined with financial stability, are in line with the interests of Bulgaria and its citizens. Our country’s accession to the OECD will be the logical continuation and the next key step in building a modern democratic society and a prosperous market economy, after NATO and EU membership. Through the reforms on the path to membership, drawing from over 60 years of experience in policy-making of the Organisation, and the opportunity to compare ourselves with the world’s most developed economies, Bulgaria will work to create new jobs and implement innovations in a number of sectors of the economy, the education, the environmental management, etc. Cooperation within the OECD will contribute to our self-confidence as a country that is fully involved in the development and implementation of standards and policies on a global level and will provide us with more effective tools and knowledge for coping with challenges of the future.
- Shared values – democracy, rule of law, human rights, open and transparent market economy, free trade
Bulgaria fully shares the values on which the OECD global community has been founded, namely democracy, the rule of law, human rights, the open market economy and free trade, and is ready and willing to contribute to the Organisation’s mission of sustainable and inclusive economic development. The membership will be a recognition of Bulgaria’s achievements and will further deepen our cooperation and exchange of good practices with Member States.
- Guarantee for the implementation of the highest standards and best practices in the field of public and corporate governance; raising the investment rating and the economic visibility of Bulgaria
The OECD membership confirms the implementation of the highest standards and best practices in the field of public and corporate governance, which will provide additional security for businesses and investors. It will support the achievement of the goals of accelerated economic growth, attracting foreign investments and increasing the productivity of the economy. The OECD membership can contribute to raising Bulgaria’s investment rating and economic visibility.
- Improvement of the quality of life of citizens and business conditions in the country by optimizing the functioning of a number of sectors internally, including education, social policy, fiscal issues, economy, transport infrastructure, digital technologies, etc.
The implementation of a larger number of OECD standards and criteria will optimize the functioning of a number of sectors internally, including education, social policy, fiscal issues, the economy, transport infrastructure, digital technology, etc., which will lead to improvements in the quality of life of the citizens and of the conditions for business in the country. The OECD standards and criteria also address the ever more pressing issue of sustainability, which, according to the Organisation’s reports, should not be at the expense of economic development, but on the contrary. Drawing on knowledge and practices in the field of sustainable development and tackling climate change will help Bulgaria meet its commitments within the EU and under the Paris Climate Agreement, while simultaneously transforming and strengthening the economy.
- Unlimited access to statistical and analytical resources and research of the Organisation
Another very important advantage of the OECD membership is the unlimited access that our country will receive to all statistical and analytical resources and research of the Organisation, covering the entire social and economic sector – an expertise that no country could acquire on its own.
- Opportunity for dialogue, exchange of good practices and proposals for solutions to common problems simultaneously with all participants on the global stage
The OECD, which works in cooperation with more than 130 countries and economies, provides its members with a unique opportunity for dialogue, exchange of good practices and proposals for solutions to common problems simultaneously with all participants on the global stage. The membership in this platform will expand the tools that Bulgaria has for contributing with added value in the discussions and making of decisions on the most important strategic issues of global development.
- Contribution to the discussion of current global challenges
As a member state of the European Union and a like-minded country, Bulgaria applies a significant part of the OECD standards and is ready to bear the responsibilities arising from the membership in the Organisation, incl. to contribute to the discussion of current global challenges.
- Multiplying positive effect on the implementation and spread of the OECD standards in neighboring regions
Bulgaria’s membership in the OECD will have a multiplying positive effect on the implementation and spreading of OECD standards in neighboring regions.