Organisation for Economic Co-operation and Development

C/MIN(2024)20/FINAL1
C/MIN(2024)20/FINAL

Unclassified

English/French
3 May 2024

COUNCIL

Meeting of the Council at Ministerial Level, 2-3 May 2024

2024 MINISTERIAL COUNCIL STATEMENT
CO-CREATING THE FLOW OF CHANGE: LEADING GLOBAL DISCUSSIONSWITH OBJECTIVE AND RELIABLE APPROACHES TOWARDS SUSTAINABLE
AND INCLUSIVE GROWTH(Adopted at the Meeting of the Council at Ministerial level on 3 May 2024)

JT03542967
OFDE

2024 MINISTERIAL COUNCIL STATEMENT
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This document, as well as any data and map included herein, are without prejudice to the status of or sovereignty over any territory,
to the delimitation of international frontiers and boundaries and to the name of any territory, city or area.

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CO-CREATING THE FLOW OF CHANGE: LEADING GLOBAL DISCUSSIONSWITH OBJECTIVE AND RELIABLE APPROACHES TOWARDSSUSTAINABLE AND INCLUSIVE GROWTH
On the occasion of the 2024 OECD Ministerial Council Meeting, we1 assembled on 2-3 May 2024 under theleadership of Japan as MCM Chair, on the 60th anniversary of its accession to the OECD, and as Vice Chairs
the Netherlands, and Mexico celebrating its 30th anniversary of membership, on the theme of “Co-creating theFlow of Change: Leading Global Discussions with Objective and Reliable Approaches towards Sustainable andInclusive Growth.”
1. As set out in the 2021 Vision Statement, we form a like-minded community committed to shared values ofindividual liberty, democracy, open and transparent markets, the rule of law, protection of human rights, genderequality, environmental sustainability, tackling inequalities, promoting diversity and social inclusion. Our work
is underpinned by the OECD’s distinctive capability for objective and highly reliable evidence-based analysis,standards and robust peer reviews to address the global challenges of our time.
2. The macroeconomic situation is of modest growth with significant uncertainties surrounding disinflation paceand geopolitical tensions, which are affecting not only the economy, but society as a whole. In this context, we
will address a wide range of social challenges such as demographic change, climate change, digital divides, andinequalities, to achieve sustainable economic growth, while dealing with fiscal challenges. We will also seek tobuild a sustainable and inclusive economy and society where all, including vulnerable groups, can experienceprosperity and better lives. In order to achieve such a society while aiming at transforming initiatives to solve
social challenges into engines for growth, we recognise the importance of improving productivity and qualityof employment, as well as promoting science, technology and innovation through boosting investment,
including in human capital such as education and skills training and R&D. We also reaffirm the importance ofthe digital and green transformations through wider applications of new technologies, fostering startups andsupporting SMEs, striving to ensure free and fair trade, enhancing people’s well-being, and achieving genderequality and social and digital inclusion.
3. We condemn Russia’s aggression against Ukraine in the strongest possible terms. Russia’s unjustifiable andunprovoked war against Ukraine is a clear violation of international law and a serious threat to the rules-based
international order. Russia’s war has caused human suffering, disrupted global supply chains, and diminishedenergy and food security worldwide. We reaffirm our commitment to support the people and democraticallyelected government of Ukraine and reiterate our firm commitment to Ukraine’s recovery and reconstruction
including through the OECD Ukraine Country Programme, as part of an initial accession dialogue. We continue
to work with the Ukrainian authorities, and in coordination with other international actors, and look forward toa successful outcome from the Ukraine Recovery Conference in Berlin in June.
4. We express deep concern about the negative economic and social impacts of the evolving conflicts in the
Middle East.
5. In an increasingly complex geopolitical environment, we welcome the OECD’s increased global outreachand engagement, and its efforts to bridge advanced, emerging and developing economies in addressing global
challenges and ensuring the OECD remains a relevant and impactful organisation. We will strengthen the1

Ministers and representatives of Australia, Austria, Belgium, Bulgaria, Canada, Chile, Colombia, Costa Rica, Croatia,
Czechia, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Iceland, Ireland, Israel, Italy, Japan, Latvia,
Lithuania, Luxembourg, Mexico, the Netherlands, New Zealand, Norway, Peru, Poland, Portugal, Republic of Korea,
Romania, the Slovak Republic, Slovenia, Spain, Sweden, Switzerland, Türkiye, the United Kingdom, the United States,
and the European Union.

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OECD’s engagement with the United Nations in support of effective multilateralism. We strongly welcome theadoption of Argentina Accession Roadmap, along with the ongoing accession processes for Brazil, Bulgaria,
Croatia, Peru and Romania. We will continue our collaboration with Key Partners and others, including throughRegional and Country Programmes, emphasizing our engagement across diverse regions such as Southeast Asia,
South East Europe, Middle East and North Africa (MENA), Latin America and the Caribbean (LAC) andEurasia. We commit to further strengthening our cooperation with Africa through the implementation of theOECD-Africa Partnership, building on the signing of the Memorandum of Understanding (MOU) with the
African Union and the launch of the African Virtual Investment Platform (AfVIP), to promote shared prosperity
through sustainable and inclusive development. We will continue to contribute to global governance throughour active engagement with the G20, G7 and APEC. We remain open to future requests for membership fromall regions.
6. We reaffirm the strategic priority of the Indo-Pacific region with a view to identifying countries for potential
membership and renew our commitments to the region on the occasion of the 10th anniversary of the OECD
Southeast Asia Regional Programme (SEARP). Since the launch of SEARP in 2014, OECD co-operation with
the Indo-Pacific has continued to strengthen and deepen through Country Programmes, Joint Work Programmes
and regional networks. Building on this long-standing collaboration, we strongly welcome the historic decision
to open accession discussions with Indonesia and adoption of the Accession Roadmap. We welcome Thailand’srequest to join the Organisation. We welcome the revision of the MOU with the Economic Research Institutefor ASEAN and East Asia (ERIA) which strengthens OECD engagement in the region. We welcome the
Implementation Plan for the OECD Strategic Framework for the Indo-Pacific, and commit to the promotion of
global outreach and further dissemination of wide-ranging OECD standards and best practices in the IndoPacific region through its implementation. We will strive to enhance cooperation with the Association ofSoutheast Asian Nations (ASEAN) and other international organisations in the region.
7. We reaffirm our continued commitment to maintaining and strengthening the rules-based, inclusive, free andfair multilateral trading system, with the World Trade Organization (WTO) at its core. We reaffirm ourcommitments to WTO reform at the thirteenth WTO Ministerial Conference (MC13) which demonstrated theimportance of strengthening and improving all the functions of the WTO, so that it can effectively respond to
today’s key global trade challenges. We will accelerate discussions on Dispute Settlement reform with a viewto having a fully and well-functioning dispute settlement system accessible to all Members by 2024. We
encourage all WTO members to promptly finalise their domestic processes to formally accept the WTO
Agreement on Fisheries Subsidies so that it enters into force, and to conclude the negotiations on additional
provisions, to reach a comprehensive agreement as soon as possible. We recognise the need for all WTO
members to work towards a meaningful outcome on agriculture reform at MC14, in line with Article 20 of theAgreement on Agriculture. We support the ongoing work of the WTO and emphasise the role of the OECD in
helping governments addressing challenges in areas such as development, the environment, small economies,
micro, small and medium-sized enterprises, and gender equality. We welcome the decision to continue to reinvigorate the Work Programme on Electronic Commerce and to maintain the moratorium on customs duties
on electronic transmissions as decided at MC13, which provides certainty and predictability for the digital
economy. We also commit to working towards the conclusion of negotiations of the Joint Statement Initiative(JSI) on E-Commerce by the summer. We value the substantive work of the OECD on digital trade. We further
welcome OECD work on level playing field. In this regard, as a leading norm to enhance transparency andaccountability of state-owned enterprises (SOEs), we adopt the revised OECD Recommendation on Guidelines
on Corporate Governance of State-Owned Enterprises (SOEs) and we recognise the importance of theirimplementation by both OECD Members and non-Members. We also recognise the importance of global levelplaying field and addressing non-market policies and practices, which in turn support well-functioning markets
underpinned by a rules-based system. We will continue our discussions on gaps between the existing WTO
rules and real-world situations to secure a global level playing field including in relation to industrial subsidies
and forced technology transfer. We welcome the implementation of the revised OECD Arrangement on
Officially Supported Export Credits incorporating more flexible financing terms and conditions including forclimate-friendly transactions, while ensuring a level playing field.
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8. We affirm our commitment to enhancing cooperation on economic resilience and economic security throughinter alia reducing vulnerabilities and countering practices that undermine international rules and norms. We
recognise that the Principles on Resilient and Reliable Supply Chains, comprised of transparency,
diversification, security, sustainability, and trustworthiness and reliability, are essential principles on which tobuild resilient supply chains among trusted partners, and we will work together to secure sustainable, reliable
and trustworthy sources for strategic goods, including critical minerals essential for the green and digitaltransformations. We express serious concern over economic coercion, and call on all countries to refrain fromits use which infringes upon the international order, centered on respect for sovereignty and the rule of law, andwill work together with partners to ensure that attempts to weaponise economic dependencies will fail. We
welcome OECD work that contributes to building our fact-based awareness on supply chain resilience andeconomic coercion and look forward to further analytical work. We commit to responding to comprehensive
strategies to use non-market policies and practices that distort a global level playing field as well as otherpractices that create strategic dependencies and systemic vulnerabilities, which can then be exploited througheconomic coercion. We will work together on other economic security issues such as promoting and protecting
critical and emerging technologies, enhancing resilience of critical infrastructure, and countering harmful
practices in the digital sphere.
9. We welcome the revision of the 2019 OECD Recommendation on Artificial Intelligence (AI) and call on theOECD to support international implementation of the revised Recommendation. With the recognition that theHiroshima Process International Guiding Principles and the Code of Conduct complement the implementationof the Recommendation, we support the Hiroshima AI Process and stress the importance of advancing
international efforts to improve interoperability between AI governance frameworks, including for generative
AI. We welcome the additional countries who support the outcomes of the Hiroshima AI Process to promotesafe, secure and trustworthy AI as part of the Hiroshima AI Process Friends Group. We look forward to theOECD’s active contribution to international discussions on AI, at fora such as the UN, G7, G20, the Global
Partnership on AI (GPAI), the AI Seoul Summit and the AI Paris Summit, with a focus on addressing the riskof mis- and dis- information and algorithmic biases as a major risk to our societies, democratic values and trust
in institutions, as well as responding to impacts on the labour market and promoting an inclusive AI-enabling
ecosystem. We call on the OECD to develop an action plan to harness the benefits and address the risks of AI
in the labour market. We also welcome broad work on policy measures to counter mis- and dis- information
including those relevant to OECD digital policies. We value the OECD’s leading role in advancing Data Free
Flow with Trust (DFFT), in promoting cross-border data flows and in providing expert analysis on the digital
economy, including analytical work regarding challenges to the free flow of data. We encourage work tofacilitate trusted data flows and welcome the Expert Community. We commit to initiating discussions on
enhancing visibility of data governance and privacy and the possible options of further strengthening therelevant committee structure. We welcome the Declaration on Transformative Science, Technology andInnovation Policies for a Sustainable and Inclusive Future, adopted2 at the Ministerial-level meeting of theOECD Committee for Scientific and Technological Policy (CSTP), and emphasise the need for transformative
science, technology and innovation policies for a sustainable and inclusive future. We call on the OECD todevelop guidance for a human-centric and rights-oriented digital transformation that benefits all.
10. We will continue to work together to reform the international tax system through the swift and effective
implementation of the OECD/G20 BEPS Inclusive Framework’s Two-Pillar Solution to address the tax
challenges arising from the digitalisation and globalisation of the economy. We call on all members of the
Inclusive Framework to finalise expeditiously the work on Pillar One with a view to signing the Multilateral
Convention (MLC) by the end of June. We welcome the 2023 update of the OECD/G20 Roadmap on
Developing Countries and International Taxation. We recognise the respective roles of governments, business,and other stakeholders, and acknowledge the diverse approaches to implement relevant international standards,
including the revised OECD Guidelines for Multinational Enterprises on Responsible Business Conduct. We
2

The Declaration was not adopted by Israel.

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reaffirm the importance of strengthening international cooperation on global value chains to promote respectfor human rights, including internationally recognised labour rights, and the protection of the environment,
leading to increased predictability and clarity for businesses. We commit to the effective and timely
implementation of the revised G20/OECD Principles of Corporate Governance that support the resilience andsustainability of corporations, which, in turn, contributes to the resilience and sustainability of the broader
economy, and look forward to the finalisation of the revised Methodology for Assessing the Implementation of
the Principles.
11. We welcome the revised Declaration on International Investment and Multinational Enterprises, whichaims to enable an open and transparent international investment environment and encourage multinational
enterprises to contribute towards economic and social development. To attract “more, better, and safe FDI”, wewill holistically consider inclusive economic growth, sustainability, and security in Emerging Markets andDeveloping Economies (EMDEs) and extend support to non-Member countries. Furthermore, we affirm thefinalisation of the Investment Facilitation for Development Agreement and the continuation of discussions on
its incorporation into the legal framework of the WTO.
12. Based on the outcome of the first Global Stocktake (GST), we reaffirm our commitment to strengthening
the implementation of the Paris Agreement and accelerating urgent action in this critical decade to keep the
1.5°C goal within reach and to achieve the common goal of net-zero by 2050. We emphasise the importance of
simultaneously achieving net-zero, economic growth, and energy security, pursuing various pathways while
taking into account national circumstances and recognising the need to develop further clean energy
technologies. We reiterate our call on the OECD to continue to examine environmentally beneficial and harmful
support measures across all sectors and provide evidence-based analysis to support reform. We call on all Parties
to the Paris Agreement and the United Nations Framework Convention on Climate Change (UNFCCC) to
commit to work collectively to peak global greenhouse gas emissions immediately and by no later than 2025,
and to contribute to global efforts in line with the Global Stocktake decision, including tripling renewable energy
capacity globally, doubling the global average annual rate of energy efficiency improvements by 2030,
accelerating efforts towards the phasedown of unabated coal power, and transitioning away from fossil fuels inenergy systems in a just, orderly and equitable manner, accelerating action in this critical decade so as to achieve
net zero by 2050 in keeping with the science. We urge all countries, in particular major emitters, to submit theirnext Nationally Determined Contributions (NDCs) with ambitious, economy-wide reduction targets, covering
all greenhouse gases, sectors and categories and aligned with keeping a limit of 1.5 °C temperature rise withinreach, based on the best available science and the highest possible ambition. We reaffirm existing UNFCCC
climate finance efforts, including the developed country commitment to the collective goal of providing andmobilising US$100 billion annually, which looks likely to have been met as of 2022 according to the statementby the OECD Secretary-General in 2023. We also look forward to an ambitious New Collective Quantified
Goal on climate finance in 2024. We recognise the role of the IEA in shaping a secure and sustainable energy
future for all.
13. We emphasise that transition finance, in line with keeping a limit of 1.5°C temperature rise within reach,avoiding carbon lock-ins and based on effective emissions reduction, is needed as it contributes to achieving a
net-zero society. We emphasise that the rapid mobilisation of private finance through the establishment of ‘highintegrity carbon markets’ and utilisation of Article 6 of the Paris Agreement can contribute to achieving net zero
emissions by 2050. We affirm the significance of the OECD’s work on the interplays between voluntary andcompliance carbon markets to enhance environmental integrity. We endeavour to achieve sustainableproductivity growth contributing to reducing GHG emissions in all economic sectors and to taking action toreinforce rural development and food security whilst strengthening our natural carbon sinks. We welcome thelaunch of the OECD report ‘A Territorial Approach to Climate Action and Resilience (TACAR)’ at COP28.
We welcome the steady progress made at the Inclusive Forum on Carbon Mitigation Approaches (IFCMA),
including the launch of the Ministerial dialogue and work on carbon intensity metrics. We expect new

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membership, cooperation with international organisations, and further work that will lead to greater progress on
cross-border climate change initiatives.
14. Recognising the interlinked global crises of climate change, biodiversity loss, and pollution, we commit toenhancing synergies and preventing trade-offs, as appropriate, as we pursue transformation toward net-zero,climate-resilient, circular and nature positive economies, taking into account just transitions, in light of the sixth
session of the United Nations Environment Assembly (UNEA-6) resolution 6/7 on promoting synergies. Given
the importance of trade in a circular economy to enhance environmentally sound recycling at the global level,
we will work with stakeholders, including businesses, to increase circularity in our economies and improve
international cooperation, and to increase environmentally sound recycling, including through relevant OECDdecisions and rules and coordination to implement procedures. We will promote circular businesses, which will
include utilizing the circular economy and resource-efficiency principles. We are committed to taking urgent
action in support of the swift and full implementation of the Kunming-Montreal Global Biodiversity Framework(KMGBF), including the transition to nature-positive economies. We are determined to revise our National
Biodiversity Strategies and Action Plans (NBSAPs) in line with the KMGBF and its goals and targets, andcontinue to work towards the implementation of the NBSAPs. We commit to supporting efforts for a sustainable
Oceans and Water management to advance long-term environmental, economic and social development. We
also commit to playing a constructive role in the Intergovernmental Negotiating Committee with an ambition
to complete the work by the end of 2024 to develop an international legally binding instrument on plastic
pollution, based on a comprehensive approach that addresses the full life cycle of plastic.
15. We reaffirm universal respect for human rights and fundamental freedoms for all as enshrined in the UN
Charter, and commit to achieving sustainable development in a peaceful and stable international environment.
Recognising the importance of human dignity, we recommit to supporting, as an international community,
developing countries most in need in achieving the Sustainable Development Goals (SDGs). The HumanitarianDevelopment-Peace (HDP) Nexus and the Women, Peace and Security (WPS) agenda, including its application
to Disaster Risk Reduction (DRR), are increasingly important for building diverse and resilient societies tosustain peace. In this regard, we emphasise the need to address financing gaps to achieve the SDGs using all
sources of finance. We continue to invite all providers of development cooperation to adhere more closely tointernational standards and practices that improve effectiveness, transparency and accountability in development
cooperation. In particular, development finance should be provided in a transparent and fair manner in line withinternational rules and standards. We emphasise the importance of stepping up implementation of the G20
Common Framework in a predictable, timely, orderly and coordinated manner, and call on the international
community to further enhance debt transparency through actions by all creditors and debtor countries, including
through debt data sharing exercises. We commit to contributing to discussions towards the Summit of the Future
and the Fourth International Conference on Financing for Development. We note that to follow up on the Summit
for a New Global Financing pact (NFP), the OECD hosts the Secretariat of the Paris Pact for People and thePlanet (4P). We commit to promoting quality infrastructure investment in line with the G20 Principles for
Quality Infrastructure Investment and through the G7 Partnership for Global Infrastructure and Investment andinitiatives such as the Global Gateway. We welcome efforts to operationalise the Blue Dot Network (BDN), andthe hosting of the BDN secretariat in the OECD. We acknowledge the progress of the FAST-Infra certification
scheme. We encourage the OECD to analyse and address the potential impact and spillovers of OECD standards
and recommendations on non-Members, especially on developing countries. Furthermore, building on thecommitments in our 2021 Vision Statement, we will deliver a new whole-of-OECD Strategy on Development
for adoption at the 2025 MCM, to optimise our approach to sustainable development.
16. In line with the OECD’s Contribution to Promoting Gender Equality, we encourage the OECD to continue
to mainstream gender equality and inclusion, taking an intersectional approach, grounded in credible analysis
using gender-disaggregated data. We welcome the progress of the Gender Dashboard, currently in its pilot
phase, the gender policy reviews and the Gender Data Initiative, as well as the upcoming first edition of the2024 MINISTERIAL COUNCIL STATEMENT
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OECD Forum on Gender Equality that incorporates best practices. Towards the goal of achieving a sustainable
and inclusive economy and society, we commit to making progress to reduce gender gaps in employment andpay. We also recommit to building resilient education and training systems, to ensure inclusive and equitable
quality education for all, from early childhood, through to the provision of lifelong learning opportunities aswell as learning opportunities to improve well-being. We recognise the importance of using multidimensional
indicators, in addition to economic growth as measured by GDP, with a view to improving all people’s wellbeing, and welcome the establishment of the OECD Knowledge Exchange Platform on Well-being Metrics andPolicy Practice (KEP) that provides a space for sharing experience and solutions across countries. We also
welcome the OECD Forum on Well-being to be held in Rome in November. We welcome the commitments
made at the OECD Health Committee Ministerial Meeting in the Declaration on Building Better Policies forMore Resilient Health Systems and hope that the OECD will contribute to promoting Universal Health
Coverage (UHC) and strengthening pandemic prevention, preparedness and response (PPPR).
17. We commend the OECD’s policy recommendations based on credible data-based analysis. We support the
Secretary-General’s efforts to enhance the global-relevance and inclusiveness of the OECD. We also support
his endeavour to strive to achieve gender equality, nationality diversity and inclusion in line with OECD Staff
Regulations. We look forward to the OECD’s continued support in delivering quality, data-driven policies forsustainable societies so that future generations can enjoy economic and social well-being.
18. We welcome the designation of Costa Rica as the Chair of the MCM in 2025.

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