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Hungary Marks 20 Years Of OECD Membership

By Ferenc Sullivan // 2016.04.27.

Hungary has marked 20 years as member of the Organisation for Economic Co-operation and Development (OECD).

The country has utilized a lot of the good practices of the OECD and its member countries over the past 20 years, but we have also enriched the organization with our own experiences, Minister of State for Financial Affairs and OECD National Commission President Ágnes Hornung said in her welcome speech at the special session held on the 20th anniversary of Hungary’s OECD membership in the grand hall of the Academy of Sciences in Budapest.

In 1996, six years after the political and economic regime change in Hungary, the OECD made a gesture towards Hungary by accepting Hungary as member of the international organization, thus acknowledging the significance and power of the country’s historic step as well as our commitment to the values of Western democracies, the Minister of State pointed out. Throughout the economic and political transformation process, the OECD has provided significant expertise for Hungary to help construct the institutional and legal framework of a market economy. At that time, being a participant in the work of an international community was recognition and opportunity at the same time, as thus we could gradually join a global knowledge base. Within the OECD, countries may get to know best practices and present aims and achievements of various policies. Even with hindsight, joining the organization can be regarded as a historic milestone from both a political and economic aspect, she stressed.

13006516_572473396264011_2007510716722936514_nPhoto: József Eisenmann/

Several high-profile personalities who had been instrumental in Hungary’s OECD membership attended the session,  among them former PM Péter Boross, former Minister for Foreign Affairs János Martonyi, former Minister of International Relations Béla Kádár, former Minister of Transport, Telecommunications and Water Management Károly Lotz as well as – besides members of the OECD National Commission and guests from the organization – various prominent figures from Hungary’s scientific and economic circles.

OECD, an international economic organisation of 34 countries, was founded in 1961 to stimulate economic progress and world trade. It is a forum of countries describing themselves as committed to democracy and the market economy, providing a platform to compare policy experiences, seeking answers to common problems, identify good practices and coordinate domestic and international policies of its members.