On 10 June 2022, following announcement of candidacy in January 2022, the OECD released Accession Roadmaps for Brazil, and Peru along with roadmaps for Bulgaria, Croatia, and Romania. These Roadmaps outline the specific goals and targets that both nations should achieve to gain OECD membership.
While the membership process can be lengthy (Costa Rica’s accession took five years), the roadmaps provide detailed information on the areas that both countries must focus their attention, so as to bring their internal policies, procedures and values in line with the OECD.
Areas of focus for Brazil are rule of law, environmental sustainability, and protection of human rights. Peru, meanwhile, is to focus on digital economy, science/technology, and employment/labour. The principles and standards laid out in the roadmaps must now be put into practice by the governments of both countries.
OECD membership would provide both countries with validation and formal recognition that they align with and adhere to OECD values – giving confidence to investors and boosting their reputations on the world stage.
The accession requirements will, no doubt, lead to legislative and regulatory changes in Brazil and Peru, and we will keep you updated on those as they occur.
If you are interested in expanding or investing in Brazil or Peru, contact our teams in São Paulo or Lima for expert local advice.
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All information contained in this publication is up to date on 2022. This content has been prepared for general guidance on matters of interest only, and does not constitute professional advice. You should not act upon the information contained in this chart without obtaining specific professional advice.No representation or warranty (express or implied) is given as to the accuracy or completeness of the information contained in this content, and, to the extent permitted by law, AUXADI does not accept or assume any liability, responsibility or duty of care for any consequences of you or anyone else acting, or refraining to act, in reliance on the information contained in this chart or for any decision based on it.