Panama Advances OECD Accession Process, Reviews Action Plan

Panama is making strides in its bid to join the Organization for Economic Cooperation and Development (OECD), taking a significant step by reviewing its action plan with international representatives. The government met with Silvia da Rin Pagnetto, director for Latin America and the Caribbean at the OECD's Development Centre, to assess progress toward integrating Panama into the international body.

The meeting, which included Panama's Minister of the Presidency, Juan Carlos Orillac, and Minister of Economy and Finance, Felipe Chapman, focused on the country's roadmap for joining the OECD. This plan involves adopting international standards, enhancing competitiveness, and improving institutional transparency. Officials also discussed the technical assistance needed for legal reforms and the potential signing of a Venture Capital investment contract.

Further discussions touched upon the Programme for the International Assessment of Adult Competencies (PIAAC). This initiative aims to measure and strengthen the skills of the adult population, aligning with the OECD's promotion of best practices. The ongoing dialogue between Panama and the OECD is crucial for strengthening the country's institutions and fostering adherence to global economic, social, and governance standards.

The government's engagement underscores its commitment to international integration and adopting best practices. This process is expected to bolster Panama's institutional framework and position it more favorably within the global economic landscape.

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Panama took a new step in its process of incorporation into the Organization for Economic Cooperation and Development (OECD) this Thursday, by reviewing with representatives of the international body the progress of the action plan that seeks to align the country with international standards in competitiveness, transparency, and public policy.