Colombia to join OECD
PARIS, May 25 (Reuters) - OECD countries officially invited Colombia to join the Paris-based economic policy forum, the Organisation for Economic Cooperation and Development said on Friday.
The Latin American country will thus become the group's 37th member when it joins with Lithuania, which was previously invited to join at the OECD's annual ministerial council.
Founded after World War II to manage the U.S.-funded Marshall plan to rebuild Europe, the OECD has traditionally brought together mostly rich industrialised countries, but in recent years has sought to diversify its membership.
OECD members are expected to respect agreed standards on things ranging from fighting bribery, to export credit arrangements, and how capital flows are treated.
Member countries also get in-depth policy advice from the OECD's 2,500 staff of international civil servants in Paris.
The OECD invitation comes as Colombia, Latin America's largest-economy, prepares to go to the polls on Sunday in a vote to replace President Juan Manuel Santos. (Reporting by Leigh Thomas Editing by Mathieu Rosemain)
