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Economic and Development Review Committee (EDRC)
Chair:   
Mr. Svein GJEDREM   
(Norway)
Vice-Chairs:   
Dr. Nick CARROLL   
(New Zealand)
Mr. Henrik THOMASEN   
(Denmark)
Members:   
Open to all Member countries 
Participant:   
Russian Federation   
(Country Reviews only)
Invitees:   
Colombia   
Indonesia   
Costa Rica   
People’s Republic of China   
Brazil   
South Africa   
India   
Observers (International Organisations):   
Bank for International Settlements (BIS)   
European Free Trade Association (EFTA)   
International Monetary Fund (IMF)   
World Bank   
World Trade Organization (WTO)   
Date of creation:
30th September 1961
Duration:
31st December 2019

Mandate:   -   Council Decision regarding the Revision of the mandate of the Economic and Development Review Committee [C/M(2006)2, item 15] approved at its 1128th session held on 26 January 2006

-   Proposed Renewal of the Mandate of the Economic and Development Review Committee [C(2008)20] approved at the Council’s 1171st session held on 17th April 2008 [C/M(2008)7]

-   Proposed Renewal of the Mandate of the Economic and Development Review Committee [C(2018)72] approved at the Council’s 1374th session held on 3 May 2018 [C/M(2018)11, item 96]

 

 

Resolution of the Council [C(2018)72, and C/M(2018)11, item 96]

DRAFT RESOLUTION OF THE COUNCIL REVISING THE MANDATE OF THE
ECONOMIC AND DEVELOPMENT REVIEW COMMITTEE

THE COUNCIL

   Having regard to the Convention on the Organisation for Economic Co-operation and Development of 14 December 1960;

   Having regard to the Rules of Procedure of the Organisation;

   Having regard to the Resolution of the Council on Partnerships in OECD Bodies [C(2012)100/FINAL];

   Having regard to paragraph 13 of the Report of the Preparatory Committee on the establishment of the Economic and Development Review Committee, revised in 2006 [C(2006)5] and last renewed in 2008 [C(2008)20];

   Having regard to the recommendations of the In-depth Evaluation of the Economic and Development Review Committee [C(2012)31 and C/M(2012)4, Item 60];

   Having regard to the Agreed Principles and Practices of the Economic and Development Review Committee [ECO/EDR/DIV(2013)3], which expand on and make more precise the Committee’s overarching objective;

   Noting that the Agreed Principles and Practices evolve with economic circumstances and the emphasis of the Committee’s work, and as such, may be updated by the Committee from time to time as appropriate;

   Having regard to the proposed revision of the mandate of the Economic and Development Review Committee [C(2018)72];

DECIDES:

A.   The Economic and Development Review Committee is renewed with the following revised mandate:

I.   Objectives

1.   The overarching objective of the Economic and Development Review Committee is to improve the economic performance of Members and selected non-Members on a sustainable basis by promoting a better understanding of their key economic challenges to help strengthen their economic policies.

2.   The Committee seeks to achieve this objective by making comments and country-specific recommendations on the macroeconomic and structural policies of the examined countries, and on the interaction between these policies.

II.   Actions

3.   Through the Economic and Development Review Committee’s Economic Surveys and peer review processes, which are implemented in accordance with its Agreed Principles and Practices, the Committee shall:

Examine on a regular basis the policies of Members and selected non-Members;

Take into account the specific circumstances of each country; draw on the experience of OECD Members, the expertise of other OECD committees, and economic research and data more broadly; and identify and discuss relevant international spillovers stemming from the policies of examined country governments.

B.   The mandate of the Economic and Development Review Committee shall remain in force until 31 December 2019.

Last published on: 24th September 2018  
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