Israel officially joins OECD

Israel was accepted into the group by a unanimous vote of the 31 member states. As an OECD member, Israel will be held accountable to strict review of its economic practices
 
Israel’s economic status received a boost last week with its official entry into the Organization for Economic Cooperation and Development.
 
Following more than 16 years of trying, Israel joined the 31 wealthiest nations and became the first Middle Eastern member of the OECD at a ceremony which took place last Thursday in Paris.
Israel was accepted into the group by a unanimous vote of the 31 member states.
 
As an OECD member, Israel will be held accountable to strict review of its economic practices. In a January report, the OECD warned Israel that it must lower its 20% poverty rate, especially high among Arabs and ultra-Orthodox Jews.
 
Membership can mean an increase in investment in a given country, but it also involves coordinating and sharing economic policies with other members.