President of the Republic of Lithuania

OECD membership to bring tangible benefit

2018-07-05

Thursday, July 5, Vilnius  President Dalia Grybauskaitė met with Angel Gurría, Secretary-General of the Organization for Economic Co-operation and Development (OECD) and bestowed upon him a state award for his support to Lithuania advancing towards OECD membership. At the same time, the Instrument of ratification of the accession to the Convention on the OECD was deposited with the Government of France and Lithuania officially became the 36th member of the OECD.

According to the President, when the world is on the brink of trade wars, the role of the OECD is paramount.  The future of a stable and economically sound state lies only in free trade, transparency as well as in fair competition and income distribution. To this end, Lithuania, together with the OECD, is ready to seek the best solutions in facing global economic challenges.

As a member of the OECD, Lithuania will join the most successful states of the world in creating the highest-level standard in the areas of public governance, international trade and finance. Lithuania's experience is of interest to OECD member countries already, especially in successful management of financial crisis and service sector liberalization. Potential candidate countries have already requested Lithuania to share its experience of smooth accession. Lithuania was among the fastest to finalize the OECD membership process in the history of this organization.

The OECD notes that Lithuania has achieved huge progress in stepping up its fight against corruption and reforming state-owned enterprises. The President initiated amendments to the Penal Code, which introduced a tenfold increase of fines for corruption related crimes. Lithuania has also ratified the Convention on Combating Bribery of Foreign Public Officials. Reforms of forestry and communications enterprises as well as depoliticization of state owned enterprises were very important steps towards transparency and efficiency.

According to the President, Lithuania has to continue making use of the OECD membership and expert assistance to the full in enhancing innovations policy, increasing labor efficiency and reducing social disparities. In the Economic Survey published for the purpose, the OECD underscored that although during the last 10 years economic growth in Lithuania was faster than in most members of the organization, social disparities remained high and solutions were needed for managing challenges related to aging population and emigration.

The OECD membership is an indicator of quality and reliability of Lithuania. It will ensure economic benefit; provide impetus for reforms and responsibility to implement the obligations of a transparent state and businesses in fighting against shadow economy and corruption. 

Press Service of the President

Last updated 2018.07.05 12:54

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