Israel won a rare victory on the international diplomatic stage, gaining acceptance in an exclusive club of prosperous economies after a 16-year effort to join the Organization for Economic Cooperation and Development (OECD).
The Paris-based OECD said on Monday it had invited Israel, as well as Estonia and Slovenia, to become members after they met specific criteria as developed, open economies. Once formally invested as members, the three will swell the ranks of the OECD to 34 members, including the US, a strong backer of Israel’s bid.
The new members “will contribute to a more plural and open OECD that is playing an increasingly important role in the global economic architecture,” OECD Secretary-General Angel Gurria said in a statement.
Just months ago, Gurria expressed concern about high levels of poverty and unemployment, especially among the minority Arab populations, during a visit to Israel.
However, it did not appear to have hampered membership. On Monday, Gurria said Israel, Estonia and Slovenia had been “receptive to OECD recommendations.”
Gurria told a news conference that Israeli politics and Midle East tensions were “not the main focus of discussion,” but acknowledged, “The entire process of membership is political.”
The OECD’s legal director, Nicola Bonucci, said on Monday that a first-of-its-kind study will be carried out “to quantify the impact” of data included by Israel from the Golan Heights, East Jerusalem and West Bank settlements in its data. Bonucci said that issue “was discussed at length.”
The head of Israel’s central bank, Stanley Fischer, said membership “is an important step towards Israel’s integration into the global economy and is an expression of Israel’s commitment to meet the highest international standards.”
However, Avi Simhon, professor of economics at Hebrew University, said entering the OECD goes beyond economic issues. “If there is a cause for celebration, it’s not economic, it’s political,” he said.
“For a country that is often isolated politically, this could be a good sign that it’s been accepted into a league of developed countries.”
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