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Diplomacy in Action

OECD 50th Anniversary Ministerial Council Meeting, May 2011 -- Key Deliverables


Fact Sheet
Office of the Spokesman
Washington, DC
May 26, 2011

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Vision Statement: The Vision Statement outlines how the OECD meets the challenges of the 21st century and the evolving international playing field. A key component of this vision is a commitment to expand our ties with major emerging economies such as China, Brazil, India, Indonesia, and South Africa, as announced by Secretary Clinton at the 50th anniversary celebration on May 25.

New Framework for Development: Consistent with the new U.S. approach to development, as laid out in the QDDR and PPD, the OECD Framework calls for greater collaboration between the OECD and developing countries, including sharing of policy successes and failures and mutual learning. The OECD’s Tax and Development initiative is an example of how the Framework can be put into action. The Framework was endorsed by Ministers at the Development session chaired by Secretary Clinton.

Russia’s Invitation to the Working Group on Bribery: This was an important step forward towards Russia’s accession to the OECD’s Anti-Bribery Convention and along the path toward Russia’s full membership in the OECD. Russia’s participation in the Working Group on Bribery contributes to the Group’s Efforts to reduce corruption. The anti-corruption legislation helps to level the playing field for business and works to combat bribery of foreign public officials in international business transactions.

Updated Multinational Enterprise Guidelines: Members adopted the update to the Multinational Enterprise Guidelines as well as the Due Diligence for Responsible Supply Chains of Minerals from Conflict-Affected and High-Risk Areas. The U.S. government, working with key stakeholders in business and labor, played an active role in the negotiations. All are supportive of the outcome, which addresses key issues such as supply chain management and includes new chapters addressing human rights, a living wage and promotes internet freedom.

Gender Initiative: Members agreed that women’s economic empowerment is key to economic growth and commit the OECD, United Nations, and World Bank to develop a joint data collection plan. Ministers endorsed the U.S.-initiated OECD’s proposed plan for a gender initiative, making the case that this issue is an economic policy priority.

Green Growth Strategy: Launched at the 2009 MCM at the initiative of the 2009 MCM Chair Korea, the 2011 Ministerial welcomed the Green Growth Synthesis and Indicators reports. The reports provide a good foundation for further OECD work in developing and refining green growth policies and tools.

Center for African Public Debt Management and Bond Markets: An MOU between the OECD and the National Treasury of South Africa was signed to establish an OECD Center for African Public Debt Management and Bond Markets. This MOU builds directly on the activities of an OECD project on Public Debt Management and Bond Markets in Africa. The center provides a venue for African debt managers with their counterparts from OECD countries and helps develop financial markets and sources of new financing for growth in Africa.



PRN: 2011/836



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