Israel could become a full member of the Organization for Economic Co-operation and Development in less than two years. Israel already has observer status and takes full part in a series of working groups and OECD committees.
The OECD invited Israel, along with Chile, Estonia, Russia and Slovenia, to begin negotiations on membership in May. It has 30 member countries, including most of the developed world, and tries to coordinate economic policies among industrialized countries. When founded in 1961, OECD membership represented 75 percent of global wealth. Today it accounts for 60 percent and efforts are being made to enlarge membership to incorporate rapidly growing economic powers.
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