OECD

OECD stands for Organization for Economic Co-operation and Development which encourages the development of new and enhanced economic policies for the social well-being of the people around the globe. Its main objective is to provide a global platform for all the nations to solve their economic problems of common nature. It provides a forum for the governments of all the developed nations and developing nations to work together to share experiences and seek solutions to common issues.

History

The organization for European Economic Co-operation (OEEC) was formed after the Second World War for the economic development and stabilization of European countries which were under financial crisis after the war. The OEEC also focused to avoid the post World War I mistakes of punishing the defeated to ensure long lasting peace in the continent. It was established in 1947 to assist and support the Marshall Plan to reconstruct and redevelop the European Continent which was completely destroyed by the Second World War. It invoked a sense of unity and cooperation between the European Countries by making them realize the economies of every European Country is interdependent on each other. Overwhelmed by the success of OEEC in the development of financial stability and maintaining peace in the European continent, United States and Canada joined OEEC as the new members. With the inculcation of these new members OEEC increased its prospects from European continent to the entire world. This gave rise to a new organization known as OECD (Organization for European Cooperation and Development) which was officially formed on 30 September 1961. Japan also joined the group in 1964 and now there are 34 member countries associated to OECD. And through the “enhanced engagement” program countries like Brazil, China, India, Indonesia and South Africa have close relations with OECD. Currently there are 40 countries which account for 80% of the world trade and investment making OECD a prime authority in addressing the challenges related to the world economy.

Mission of OECD

• To promote Economic policies for improving the economic conditions of the countries across the globe.
• To provide a platform for the countries with common economic problems to work together and solve their problems.
• To provide a platform for the developed countries to share their experiences and provide appropriate recommendation to the developing countries facing economic problems.
• To assist different governments for analyzing the various reasons for economic, social and environmental changes in their countries.
• To assist with the research and analysis for measuring the productivity of world trade and investment and also predicting the future trends.
• To set international standards on various services and products ranging widely from safety of nuclear power plants to standard Tomato quality and from education of the country’s youth to the pension plan to support the senior citizens.
• To design and recommend policies for enhancing the life of the common people.

ICANN and OECD

OECD acts as an Advisory for ICANN in its various economic policies regarding TLDs and other internet related services. It also aims to provide overview of the structure of the market for gTLDs and also to review reforms introduced by ICANN and their impact on the market. It also recommends ICANN on various procedures and reforms which ICANN can implement to efficiently use its resources.