Ukraine is interested in expanding its participation in the Organisation for Economic Co-operation and Development (OECD) and hopes to receive a roadmap for full membership in this organisation. This was announced by the First Deputy Prime Minister and Minister of Economy of Ukraine Yuliia Svyrydenko following a meeting with the OECD leadership in Paris.

“We had a productive meeting with OECD Secretary-General Mathias Cormann. We expressed our sincere gratitude for the recent approval of the OECD programme for Ukraine. Membership and further deepening of our cooperation is one of the top priorities for Ukraine today. Therefore, we hope to receive a roadmap for full membership in the OECD,” said Yuliia Svyrydenko.

The First Deputy Prime Minister and Minister of Economy of Ukraine also stressed the importance of compliance with OECD principles in the future reconstruction of Ukraine.

According to her, the Government’s current focus in its cooperation with the OECD is on investment incentives, investment promotion and deregulation, expanding support for ECAs in Ukraine and their coverage of 100% of investment risks, and reclassifying Ukraine’s risk group from Group 7 back to Group 6 to make risk insurance more affordable.

Yuliia Svyrydenko said that the Cabinet of Ministers of Ukraine had already approved the implementation of the OECD programme for Ukraine, identifying responsible national stakeholders, performance evaluation criteria and deadlines.

In addition, the Government’s draft law (No. 5593-d) on more effective implementation of corporate governance reform, which takes into account the OECD’s recommendations, is due to be considered in the near future.

“For these purposes, we use the recommendations of the OECD Review of the Corporate Governance of State-Owned Enterprises in Ukraine and consult with the OECD Secretariat and members of the relevant Working Group. After the adoption of the draft law 5593-d, we will work on the implementation of corporate governance instruments, such as ownership policy, dividend policy, remuneration policy, etc. It is important for us to prepare these documents in accordance with OECD standards, so we will be very grateful for continued support in the future,” said Yuliia Svyrydenko.

The Organisation for Economic Co-operation and Development (OECD) unites 37 countries. Its members are most of the European Union countries, the USA, Australia, Switzerland, Norway, South Korea, Japan and others. The headquarters is located in Paris (France).

The institution was established in 1948 as the Organisation for European Economic Co-operation (OEEC) under the leadership of French economist Robert Marjolin to help implement the Marshall Plan for the economic reconstruction of Europe after World War II. Later, the list of members was expanded to include non-European countries.