Economics, EU – Baltic States, Latvia, Legislation

The Initial Memorandum constitutes Latvia’s evaluation of the compliance of national legislation currently in force and its application practice with the OECD standards.

In total, those are 230 legal instruments of the Organisation – conventions, decisions, declarations and recommendations. The instruments cover a broad range of economic and social policy topics. Almost all the public administration institutions of Latvia were involved in the preparation of the memorandum. The submission of the Initial Memorandum can be regarded as the conclusion of the first stage in the process of Latvia’s accession to the OECD.

The OECD and its members will begin an in-depth assessment.  It will include both the compliance assessment in regard to OECD standards and a comprehensive comparative analysis of Latvia’s economy against the organisation members’ best practices. If necessary, the Government of Latvia will be given recommendations for adjustments to legislation or application practice.

Technical reviews will take place simultaneously within 21 OECD committees and include fact-finding missions by OECD experts to Latvia and Latvian representatives’ discussions with member states at the committee meetings.

The Road Map for Latvia's accession negotiations were approved at the OECD Council meeting in Paris on 15 October 2013.

On 9 and 10 December 2013, the visit to Latvia by the OECD Deputy Secretary-General William C. Danvers and representatives from the OECD Secretariat and directorates launched the official process of the accession of Latvia to OECD.