Canada Marks 50th Anniversary of the OECD

Minister of State for Finance Menzies promotes Canada’s trade objectives for jobs and growth

(No. 141 – ay 25, 2011 – 3:45 p.m. ET) The Honourable Ted Menzies, Minister of State for Finance, is visiting Paris from May 24 to 26, 2011, to attend the 50th anniversary of the Organisation for Economic Co-operation and Development (OECD)—a key global forum in which to discuss international economic and social issues—on behalf of the Honourable Ed Fast, Minister of International Trade and Minister for the Asia-Pacific Gateway, and the Honourable Jim Flaherty, Minister of Finance. Minister Menzies will also attend an informal gathering of some key members of the World Trade Organization (WTO) on behalf of Minister Fast.

“The OECD has recognized that Canada’s domestic economic strengths and the Harper government’s timely policy actions ensured that the country faced a limited financial and economic impact from the global recession. As a result, Canada is recovering strongly from the downturn,” said Minister Fast. “Canada is committed to continuing to be a world leader in promoting free and open trade for jobs and growth and will continue to be an active participant in forums such as the OECD, which help promote international economic cooperation.”

“Canada is at the OECD this year to help commemorate its 50 successful years and to set the organization on a path to help improve the world economy for the next 50 years,” said Minister Menzies. “The OECD continues to be an important source of ideas, standards and norms that shape policies and strengthen the functioning of the global economy. In particular, its analysis of the impact and importance of structural reforms to enhance potential output has been invaluable.”

Minister Menzies will represent the Minister of International Trade to exchange views with other WTO members on the status of the Doha Round of negotiations and to explore next steps.

“As we move toward a sustained economic recovery and with trade representing about 60 percent of our economy, pursuing an ambitious free trade agenda is more important than ever,” said Minister Fast. “The Government of Canada is committed to expanding trade to open doors for Canadian exporters, encourage economic growth and create jobs for Canadians.”

The OECD was established in 1961 to promote cooperation on economic policy in order to achieve growth and development for all members. Canada was one of the first signatories, along with 18 European countries and the United States. Today, there are 34 member countries worldwide.

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