After 23 years of bilateral relations, Brazil has formally requested entry into the Organisation for Economic Cooperation and Development (OECD). The announcement was made on Tuesday (30) evening by the spokesman of the Presidency of the Republic, Alexandre Parola. The board of the entity will now review the request for inclusion.

Parola pointed out that Brazil was invited to an expanded engagement with OECD, precisely as a mechanism to strengthen the partnership with the agency. Since 1994, the country participates in OECD activities, in addition to monitoring 23 committees and working groups. Moreover, Brazil also has 31 legal instruments defined by the organisation.

“[The request] is part of the efforts by the Brazilian Government to consolidate sustainable and inclusive development, modernising management and taking advantage of the Organisation's wide experience in comparative public policies," said the spokesman in a statement to the press. The OECD is a multilateral organisation based in Paris that brings together the world's leading economies among its 34 members.

Partnership with China

During the briefing, the spokesman reinforced the launch of an investment fund in partnership with the Chinese government. The Fund, with an initial contribution of US$ 20 billion, will be directed to developing projects in the infrastructure, manufacturing and agribusiness sectors. Operations are expected to start in June.

"This is an innovative financing mechanism, with a joint management agreement, that will create important opportunities for dialogue and close ties between Brazil and China," said Parola.