© OECD 2024OECD MCM (May 2024)Challenges facing the OECDThe OECD promotes a rules-based international order by creating and expanding standards and rules addressing various economic and social issues. It ■rst adopted the OECD Code of Liberalisation of Capital Movements in 1961, which has been the foundation of free trade; and more recently, it has helped formulate the G20 Principles for Quality Infrastructure Invest-ment, a guiding principle in development assistance, and adopted the OECD AI Principles against a backdrop of AI’s growing importance. However, the OECD’s global relevance and impact has been in decline as emerging countries wield greater economic in■uence and the combined GDP of OECD member countries dropped from approximately 80 percent of Global GDP in 2000 to 60 percent in 2020. It is imperative for the OECD to bolster relations with non-member countries, especially in the Indo-Paci■c—one of the world’s most dynamic growth regions—in order to maintain and improve the practicality of its rules and standards.
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