On the occasion of the 2011 OECD Ministerial Council Meeting (MCM), Leaders and Ministers assembled under the Chairmanship of the United States of America and the Vice-Chairmanship of Germany to celebrate the 50th Anniversary of the Organization and set the OECD on a path that will ensure its effective and influential role in an interconnected world.
The MCM deliberations benefited from the participation of Brazil, India, Indonesia, the People’s Republic of China, and South Africa, as well as the Russian Federation, which is moving forward in the OECD accession process: Ministers look forward to further progress of the accession review of Russia in accordance with the 2007 roadmap.
A New OECD Vision
The Chair presented the Vision Statement [annex], which celebrates the OECD’s history as a forum for policy development and dialogue and looks ahead to its important role contributing to better policies for better lives, implementing a new paradigm for development, and moving toward a global policy network. Ministers representing OECD Member States and the Russian Federation endorsed the Vision Statement and called upon the Council to determine concrete ways to put it into action.
For the past 50 years, the OECD has provided a unique setting where governments can come together to share policy experiences, identify good practices, find solutions to common problems, and collaborate on addressing global challenges. Ministers underscored that the OECD’s core strengths are the high quality of its standards, the objectivity of its recommendations, fact-based mutual learning and its rigorous peer review process. Ministers welcomed the OECD’s valuable contributions to the evolving global architecture, including the G20.
Ministers welcomed the Strategic Orientations paper presented by the Secretary-General, which sets out his strategy for increasing the Organization’s impact, inclusiveness, and relevance going forward.
They also congratulated him on his reappointment as Secretary-General.
Ministers welcomed the invitation for Russia to join the Working Group on Bribery, recognizing this as an important step towards acceding to the Anti-Bribery Convention, a prerequisite for OECD membership. Ministers looked forward to Russia’s early adherence to the Convention and called upon all Working Group members to effectively enforce the Convention.
Ministers adopted the updated OECD Guidelines for Multinational Enterprises, which includes a new chapter on addressing human rights, and encourages enterprises to support cooperative efforts in the appropriate fora to promote Internet freedom. They also adopted the Recommendation on Due Diligence Guidance for Responsible Supply Chains of Minerals from Conflict-Affected and High-Risk Areas.
Ministers also welcomed the establishment of a Center for African Public Debt Management and Bond Markets, supported by the OECD and the Government of South Africa. A Memorandum of Understanding establishing the Center was signed by the representative from South Africa and the Secretary-General.
The Current Economic Situation
The Chief Economist of the OECD presented the Economic Outlook in the public OECD Forum. Recovery from the crisis is proceeding gradually, with recent growth slightly stronger than anticipated. Growth is increasingly self-sustaining, with stimulus support diminishing and private demand picking up.