Economy

The US supports Brazil for entering OECD ahead of Argentina

Argentine election of leftist Alberto Fernandez changed the American priority, benefiting Brazil

The logo of the "OECD - Organization of Economic Cooperation and Development", Berlin. Photo: Shutterstock

The Brazilian government welcomed this Tuesday the United States’ change of stance regarding Brazil’s bid to enter the Organization for Economic Cooperation and Development (OECD), as reported by news media agency Reuters. Previously, in October, the US government had expressed its support for the neighbor Argentina to be the next in line. 

Benefiting the right-wing presidency of Jair Bolsonaro, who has been from the very beginning of his term a great supporter of Donald Trump‘s government, US change of support for Brazil instead of Argentina seems to be related to the election of the leftist president in the latter, Alberto Fernandez. 

“We are building a solid partnership with the United States,” Foreign Minister Ernesto Araujo said in a Twitter message responding to the news.

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“The Brazilian government is working to align its economic policies with OECD standards while prioritizing membership to strengthen its political reforms,” said the US embassy in Brasilia. Seeking to be aligned with the US and building a closer relationship with the country is a big mark of Bolsonaro’s administration and now that the US has officially backed Brazil’s path to joining the OECD, the membership works as an endorsement for boosting investor’s confidence, although it could take up a time for the official entry.