The Brazilian application to join the OECD was formalized on May 30, 2017 through a letter from the Brazilian government.
The OECD acts as an organization for cooperation and discussion of public and economic policies that should guide the countries that are part of it.
Being part of the OECD should be viewed with good eyes by Brazilians, other countries and the market. It can favor international investments and exports, increase investor and company confidence, and improve the country's image abroad, favoring dialogue with developed economies.
In the case of emerging countries, being part of the OECD may also make it possible to raise funds abroad at more favorable interest rates, because being part of the organization means that the country adopts good economic policies.
It is clear that the effects on the economy do not occur immediately, but in the long run, since membership represents the adoption of best international practices, favoring the business environment for investors and promoting adjustments in relation to transparency.
Brazil is already an effective partner of the OECD, and is also the non-member country with greater cooperation and intense activity. So, being part of the organization is one important step.
On the other hand, membership risks Brazilian leadership to underdeveloped countries, as well as its participation in BRICs. But even so, the benefits outweigh the risks.Back to Articles Back to Gabriel Quintanilha
The information provided in this article is for general information purposes only. The information is not intended to be comprehensive or to include advice on which you may rely. You should always consult a suitably qualified professional on any specific matter.
Gabriel Quintanilha is based in Rio de Janeiro. Gabriel has been an attorney at law since 2006. He is also Professor of Tax Law at Fundação Getulio Vargas – FGV and IBMEC. Author of books and articles published in Brazil.
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