Slovenia Property Investment News

OECD membership for Slovenia

UK buyers looking at cheap overseas property in eastern Europe will have been buoyed by the news that Slovenia, along with four other countries, has been invited to join the Organisation for Economic Cooperation and Development (OECD).

The invitation illustrates the growing strength of the Slovenian economy and prospective home-buyers looking for good capital returns will find their fortunes improved by a growing role in the world economy, as more foreign investors flock to invest in the country.

OECD secretary general Angel Gurria explained the invitations extended to Slovenia, Russia, Estonia Chile and Israel: "In order to remain an influential voice in the world economy, through policy analysis, dialogue and rule making, the OECD must strengthen its link with other countries.

"This makes it difficult to bring on board more than a small number of new members at the same time. That is why the OECD wishes to start accession negotiations with a few countries now, while at the same time strengthening its relations, with a view to possible membership, with other major economies."

Founded in 1948, the OECD encourages democratic co-ordination of its member states as part of a free market economy and was originally developed to implement the Marshall Plan after World War II.

It was expanded to include non-European nations in 1961, but today its membership accounts for only 60 per cent of global wealth, thanks to the staggering economic growth of the BRICs nations (Brazil, Russia, India and China).