Prime Minister Maris Kucinskis (Greens/Farmers) and Angel Gurria, Director General of the Organization for Economic Cooperation and Development (OECD), signed an agreement on Latvia’s accession to the OECD in Paris today, informs LETA.

After the agreement's signing and ratification by Saeima, Latvia will become the 35th member of the OECD. Saeima might vote on the agreement’s ratification on June 16.





Valdis Dombrovskis (Unity), the European Commission's Vice President from Latvia, took part in the signing ceremony as the Commission's representative. Latvia started accession talks with the OECD in 2013 when Dombrovskis was Latvia's prime minister.





Kucinskis said at the signing ceremony that he is grateful to OECD member states for inviting Latvia to join the organization. “This is a recognition of tenacious work Latvia has done as part of the accession process,” the Latvian prime minster said.





"It is a privilege, to join this "club of best practices". At the same time, we realize that along with this privilege we are also taking commitments and responsibilities," Kucinskis said.





The prime minister noted that this is only the beginning, as there is a lot for Latvia to achieve in the future. Latvia is determined to be an active OECD member in the organization's efforts to find solutions to modern global challenges. Latvia is also ready to share its experience and know-how, Kucinskis said.





Dombrovskis also indicated that Latvia's work does not end with its accession to the OECD and that there is still a lot of work ahead. The European Commission's vice president thanked member states for supporting Latvia's admission to the organization.





Gurria greeted Latvia on joining the OECD, praising its achievements during the accession process. The OECD secretary general also noted Latvia's significant progress on implementing the OECD's recommendations.





According to the Foreign Ministry, Latvia's accession to the OECD, the bloc of the world's 34 most developed countries, is expected to ensure serious benefits, including to improve Latvia's international credit rating.





Foreign Minister Edgars Rinkevics (Unity) said earlier that after joining the OECD Latvia will still have a lot to do in several areas, including enhancing the oversight of its financial sector.







