Peru reaffirms commitment to OECD, highlights cooperation in Latin America

Peru's Prime Minister, Luis Arroyo, has reaffirmed the nation's commitment to joining the Organization for Economic Co-operation and Development (OECD) during a forum in Paris. He emphasized the crucial role of multilateral cooperation in fostering a more resilient and integrated Latin American region.

Speaking at the 18th Economic Forum for Latin America and the Caribbean, held at the OECD headquarters, Arroyo stated, "Convinced that multilateral cooperation is essential for building a more resilient and integrated region, we reaffirm our commitment to the process of accession to the OECD and to the values it promotes as a state policy, aimed at strengthening institutions, promoting more productive economies, and building more inclusive societies."

The forum coincided with the tenth anniversary of the OECD's Regional Program for Latin America and the Caribbean. Peru, along with Chile, held the program's first co-presidency from 2016 to 2019, an experience Arroyo noted allowed Peru to contribute to strategic priorities and deepen its relationship with the OECD.

Arroyo highlighted Peru's ongoing initiatives in connectivity, energy transition, productive modernization, and regulatory framework updates, all aimed at promoting a more competitive and transparent economy. He stated that the OECD accession process has bolstered institutional strengthening in areas such as regional development, labor formalization, agriculture, fisheries, regulatory policy, competition, digitalization, integrity, and environmental sustainability.

Beyond its OECD aspirations, Arroyo stressed that cooperation with the organization has also enhanced coordination with other regional mechanisms like the Pacific Alliance and the Asia-Pacific Economic Cooperation (APEC) forum, thereby improving Latin America's international integration over the past decade. He acknowledged that Latin America faces significant challenges from economic, technological, and geopolitical transformations but possesses key advantages, including natural resources, renewable energy potential, and developing innovation ecosystems. However, he pointed out persistent structural issues like low productivity and limited economic diversification continue to hinder regional competitiveness and participation in global value chains.

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Convinced that multilateral cooperation is essential for building a more resilient and integrated region, we reaffirm our commitment to the process of accession to the OECD and to the values it promotes as a state policy, aimed at strengthening institutions, promoting more productive economies, and building more inclusive societies.