What is the Organisation for Economic Co-operation and Development (OECD)?

Key facts about Organisation for Economic Co-operation and Development (OECD):

• It is an international organisation of 38 countries committed to democracy and the market economy.
• OECD members are typically democratic countries that support free-market economies.
• The OECD was established on Dec. 14, 1960, by 18 European nations, plus the United States and Canada.
• Headquarters: Paris, France.
• The stated goal of the Organisation for Economic Co-operation and Development (OECD) is to shape policies that foster prosperity, equality, opportunity and well-being for all.
• The OECD publishes economic reports, statistical databases, analyses, and forecasts on the outlook for economic growth worldwide.
• The organization also seeksto eliminate bribery and other financial crime worldwide.
• The OECD maintains a so-called “black list” of nations that are considered uncooperative tax havens.
• India is one of the many non-member economies with which the OECD has working relationships in addition to its member countries. 

The Programme for International Student Assessment (PISA):

• It is an international assessment that measures 15-year-old students’ reading, mathematics, and science literacy every 3 years. 
• First conducted in 2000, the major domain of study rotates between reading, mathematics, and science in each cycle.
• PISA also includes measures of general or cross-curricular competencies, such as collaborative problem solving. 
• PISA is coordinated by the OECD.

Q1) Which countries can become an OECD member?

Countries wishing to become OECD members must demonstrate a “readiness” and a “commitment” to adhere to essentially two fundamental requirements:

(i) democratic societies committed to rule of law and protection of human rights; and

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(ii) open, transparent and free-market economies.

Source: State signs deal with OECD to hold PISA test for govt school students