Israel to join OECD by May 2010
Following agreement with Finance Minister Steinitz, international economic organization will release its first comprehensive review of Israeli market in November ahead of granting Jewish state full membership
The two officials met in Paris last week during Steinitz's visit to the biannual meeting of ministers of OECD members and countries which have applied to become members.
Being an OECD member is mainly a matter of prestige. The organization, which was founded in 1961, is a club of developed, democratic and liberal countries, whose representatives meet and work to coordinate their policies in the economic, social, environment and financial fields.
Israel first asked to be accepted as a member of the OECD 20 years ago, but was rejected repeatedly for political and economic reasons.
The organization, which currently has 30 members, has taken in countries which are at a much lower development level than Israel (including Turkey, the Czech Republic and Mexico), but has refused to accept Israel, offering no explanations.
Bank of Israel Governor Stanley Fischer began pressuring the OECD to accept Israel as a member about three years ago, and his intervention appears to have been successful.
In May 2007, the OECD Ministerial Council made a decision in principle to invite Israel to apply for a membership, without determining a date for its admission.
Since then, delegations of experts have visited Israel on behalf of the organization, the Knesset has enacted laws matching the organization's instructions (particularly in terms of environment protection and the war on governmental corruption), and Israel's name has been mentioned several times in official OECD publications.
But senior organization officials, including its secretary-general who visited Israel about a year and a half ago, have refused to commit so far to a deadline for Israel's inclusion as a member.
It now appears that Minister Steinitz has managed to attain the longed for commitment and has even guaranteed the support of European ministers in the decisive vote – in order to prevent a last-minute political failure.
Timetable
July-December 2009: Israel to undergo a hearing at the organization's committees, including the Environment Directorate and the Employment Committee
November 2009: OECD to release a comprehensive economic review of Israel
March 2009: Israel to sign a declaration approving the membership
May 2010: OECD Ministerial Council to announce a decision in principle to invite Israel to join the organization's treaty
