Chamber of Deputies Ratifies Chile's Entry into OECD
    2010-01-21 13:39:31     Xinhua      Web Editor: Cao
The Chamber of Deputies, the lower chamber of Chile's legislature, ratified on Wednesday the nation's entry into the Organization of Economic Cooperation and Development (OECD) which gathers the 30 most developed countries of the world.
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The Chamber of Deputies, the lower chamber of Chile's legislature, ratified on Wednesday the nation's entry into the Organization of Economic Cooperation and Development (OECD) which gathers the 30 most developed countries of the world.

The ratification was made with 92 votes in favor and one abstention.

In an approval document, members of the Chamber of Deputies noted that it's very important for Chile to be part of an organization which is aimed at promoting sustainable economy growth, boosting employment, increasing living standards and keeping the financial stability.

"Chile will become a more transparent country, with more effective and better public policies in different sectors like education, innovation, environment, corporative government, finance and investments," they said.

Meanwhile, Chilean Treasury Minister Andres Velasco said that "the fact that Chile joins an association of countries with good norms, with good policies, is an achievement, and the (Chilean) deputies have understood it and supported it, without any vote against it."

In December, Chile was accepted by the OECD as a full member after two years of negotiations, becoming the first South American country admitted by the OECD.

Last week, Chilean President Michelle Bachelet signed a document for Chile's OECD membership, which needs to be ratified by both chambers of the National Congress, the Chilean legislature.

After the ratification of the Chamber of the Deputies, now it is up to the Senate, the upper chamber, to give the final approval of the country's OECD membership, which will probably take place in March when the senators return from the congressional break.

Founded in 1961 by 20 countries, the OECD now has 30 state members, which together cover almost 70 percent of the world market.

Chile will become the 31st member country of the OECD pending the approval from the Chilean Senate.

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