Organization for Economic Co-operation and Development. The “rich countries” club was established in 1961. Their goal was to promote economic growth and the expansion of world trade.
The OECD is based in Paris and has 35 members from July 1st, 2016, since Latvia joined.
Following the launching of the European Economic Community (EEC), which occurred in 1957 through the signing of the Treaty of Rome, the OECD Convention was developed based on reforms of the OEEC. In December 1960, the Convention was signed, and the OECD officially superseded the OEEC in September 1961. Founding members of the OECD included the United States (US), Canada, and all European countries that established the OEEC. There were 20 founding members: Australia, Belgium, Canada, Denmark, France, West Germany, Greece, Iceland, Ireland, Italy, Luxembourg, Netherlands, Norway, Portugal, Spain, Sweden, Switzerland, Turkey, the United Kingdom, and the United States.