Speaker of the Seimas: preparations for OECD membership are swiftly bringing Lithuania close to the standards of the most powerful global economies

Press release, 14 February 2017

Photos of the Office of the Seimas (author Džoja Gunda Barysaitė)

On 14 February 2017, Viktoras Pranckietis, Speaker of the Seimas, met with Douglas Frantz, Deputy Secretary-General of the Organisation for Economic Cooperation and Development (OECD). The Speaker of the Seimas noted that OECD membership was a priority for the current Seimas and the current government.

“Preparations for OECD membership are rapidly bringing Lithuania closer to the standards of the strongest global economies. It is important for us to swiftly implement reforms in the area of governance of state-owned enterprises, agree on the Labour Code, as well as ratify and launch the implementation of the OECD Convention on Combating Bribery of Foreign Public Officials in
International Business Transactions. All the measures for reorganisation planned and launched by the current Seimas and the government will help Lithuania to become a fully-fledged partner of 34 member countries with high levels of economic development. For us, OECD membership translates into sustainable economic growth, improvement of living standards, and promotion of employment. Therefore, membership of this prestigious club of the most powerful countries is our current priority,” Mr Pranckietis said.

Speaker of the Seimas noted that Chairs of the Seimas committees and Members of the Seimas representing both the position and the opposition had expressed their clear commitment to implement, in a timely fashion, ambitious reforms in various areas of public sector governance.

The main focus this year will be on the improvement of management of state-owned enterprises and reduction of political influence on the process; implementation of measures for market liberalisation; and fight against the participation of individuals and legal entities in corrupt transactions. A total of about two hundred legal acts are to be adopted or amended.

Lithuania was invited to open the OECD accession negotiations back in 2015. Currently, the aim is to complete the negotiation process in 2018. The visit to Lithuania of the high-level OECD delegation led by Douglas Frantz takes place in the middle of the accession negotiation process.

The OECD was established on 14 December 1960, following the signing of the Convention of the Organisation for Economic Cooperation and Development. There are currently 34 member countries in the OECD. The Organisation also cooperates with more than 70 countries that are not its members. The main objectives of the OECD are to support economic growth, promote employment, improve standards of living, help maintain financial stability, support the economic development of non-member countries, and contribute to the development of world trade. In order to attain these aims, one of the important tasks is to promote fair competition. Membership of the OECD is recognised by the international community as a guarantee of economic stability. It is taken into account in providing loans to governments and in long-term investment planning.

 Dalia Vencevičienė, Senior Adviser to the Speaker of the Seimas, tel. +370 5 239 6016, mob. +370  698 42 071, e-mail: [email protected]