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Russia interested in joining Organization for Economic Cooperation and Development

Earlier, Russian Prime Minister Dmitry Medvedev said that Russia’s strategic goal in the sphere of integration was to join that organization

MOSCOW, January 17 (Itar-Tass) - Moscow is interested in joining the Organization for Economic Cooperation and Development (OECD), the Russian foreign ministry said on Thursday after a meeting between Russian First Deputy Foreign Minister Andrei Denisov and OECD Secretary General Angel Gurr·a, who is currently on a working visit to Moscow.

“The talks focused on the negotiating process on Russia’s accession of the Organization for Economic Cooperation and Development, on current cooperation issues, and on OECD’s practical assistance to Russia ahead of its presidency in the Group of 20 and the Group of Eight,” the ministry said.

“The sides confirmed mutual interest in Russia’s joining the OECD, including in the context of the OECD’s growing role in comprehensive coordination of global economic processes and the importance of Russia’s participation in these processes, and in the context of large-scale economic and social development tasks facing our country, where the OECD’s analytical and expert potential can be used,” the ministry noted.

The Organization for Economic Cooperation and Development was established in 1961 on the basis of the Organization for European Economic Cooperation that had existed since 1948. The overall gross domestic product of the 34 OECD member states, including the United States, Canada, Japan, Australia and countries of the European Union, accounts for more than a half of the global GDP. The Organization for Economic Cooperation and Development sees its mission in promoting policies that will improve the economic and social well-being of people around the world.

Earlier, Russian Prime Minister Dmitry Medvedev said that Russia’s strategic goal in the sphere of integration was to join that organization. "The OECD membership remains our strategic goal in the sphere of integration now that we have joined the WTO,” Medvedev. According to the Russian prime minister, a roadmap for the OECD membership has already been adopted and the Russian leadership has clear understanding of the tasks and benefits. "The entrance into this organization is a vital signal for investors that indicates the level of the country’s institutional development,” he stressed.

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