Israeli joins top world economic organization

Tuesday, May 11, 2010 |  Israel Today Staff

Israel on Monday was officially accepted as the newest member of the Organization for Economic Cooperation and Development (OECD), a move Prime Minister Benjamin Netanyahu said was evidence of Israel's "economic prowess."

Meeting in Paris, the OECD voted unanimously to invite Israel, Estonia and Slovenia, despite heavy lobbying by the Palestinian Authority to keep the Jewish state out of the organization.

Netanyahu said the OECD thankfully considered Israel's acceptance solely on economic grounds, realizing that such a dynamic and capable economic power should not be left out in the dark.

Israel was one of few countries to weather the recent global economic downturn with little or no long-term negative effects.

Israel's membership in the OECD is expected to encourage more foreign investment in the country.

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