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Minister Nowak: Poland's 25 years in the OECD is a good time for our economy

22.11.2021

Poland was admitted to the Organisation for Economic Co-operation and Development (OECD) on 22 November 1996. This was a milestone on the road to systemic and structural changes in the Polish economy after our country regained its sovereignty. Today, exactly a quarter of a century after accession, the Warsaw Stock Exchange hosted a conference devoted to the balance of the 25th anniversary of Poland's presence in the OECD and the Organisation's role in the new post-pandemic reality. The event was attended by the Minister of Development and Technology Piotr Nowak, OECD Secretary General Mathias Cormann and the Deputy Minister of Economic Development and Technology Marek Niedużak.

Piotr Nowak speaking on the conference devoted to the balance of the 25th anniversary of Poland's presence in the OECD

At the time of joining the OECD, Polish GDP per capita was 40% of the OECD average, while today it is close to 70%. Poland in the Central European region has become an engine of economic growth. In the last 20 years, Poland has achieved the biggest increase in its share of the EU GDP and has been a leader in reducing unemployment and increasing employment in industry. The Polish economy has proved resilient to pandemic disruptions. According to the International Labour Organisation, by the end of 2021 we will be ranked 1st in the EU and 2nd in the world in terms of the scale of labour market recovery during the COVID-19 crisis

"The OECD was the first inclusive institution of the Western world to which our country was admitted after regaining sovereignty and systemic transformation. Joining the OECD was also one of the most important steps on the road to Polish membership of the European Union. The fundamental change that took place in the Polish economy owed much to the work preceding accession to the OECD. It was a time of introducing key reforms, both in the sphere of economic policy and sectoral public policies such as education or employment. This helped bring Polish legislation in the areas of tax policy, capital flows policy, the banking and finance sector, foreign investment, environmental protection and ecological policy, among others, closer to Western standards. This has consequently accelerated our integration with the European Union and helped Poland embark on a path of rapid development".

- emphasises Minister Piotr Nowak.

"Poland is an inspiring example of how to make a successful transition to a market economy and successfully compete in global markets. We are relying on Poland's experience in this respect, working together with countries in Eastern Europe, led by Ukraine, and Eurasia,”

- emphasised Mathias Cormann, OECD Secretary General.

The new OECD head also highlighted the rapid recovery of the Polish economy after the pandemic crisis.

"Poland's GDP has already returned to pre-pandemic levels primarily due to the effective and timely countermeasures launched by the government. Poland can also benefit significantly from digital transformation. The pandemic has definitely accelerated the digital transformation processes in Poland, which are already underway and are already bringing huge benefits to the Polish economy today.”

- Mathias Cormann points out.

Poland at the OECD

Since the beginning of its membership in the OECD, Poland has not only been an observer, but also an active participant of activities aimed at adapting the Organization, its structure and functioning to global challenges and the changing expectations of its member countries. Currently, about 350 experts from Poland participate annually in the routine work of OECD committees and working groups.

As Minister Nowak notes in this context:

"Poland today enriches the OECD with its knowledge and experience of deep economic transformation and catching up with economic and social disparities. After three decades of rapid transformation, we want to put emphasis on the quality of the economy, growth of real incomes and availability of public services. That is why the Polish National Recovery Plan and the government's programme Polish Deal have been prepared with a view to sustainable socio-economic development of Poland in the next decades".

- emphasises the Minister of Economic Development and Technology.

In turn, Deputy Minister of Economic Development and Technology Marek Niedużak adds:

"A sustainable and resilient growth model - non-exclusionary, green, digital - is the way to get the economy out of the pandemic. The experience and potential of the OECD can help define such a growth path.”

Last month, Poland, along with 135 countries, issued a joint declaration to continue cooperation on strengthening the international tax system. The declaration is the basis for the creation of legal regulations on the taxation of digital giants and the introduction of a global minimum tax. This is another step in the fight against tax havens, in which Poland actively participates.

Poland is also an active participant in the OECD's cooperation with countries of the region and a donor of the Regional Competitiveness of Eurasia Programme. And in September this year, Poland and Lithuania took the initiative to establish an OECD office in Kyiv to support the implementation of OECD standards in the Eastern Partnership countries.

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