NO.066

Australia has been elected to chair the Ministerial Council of the Organisation for

Economic Co-operation and Development (OECD). The OECD comprises 29 nations who are the

world’s leading industrial economies.

That Australia has been chosen to chair the OECD Ministerial Council acknowledges its

strong economic performance over the last two years. Notwithstanding the east Asian

financial and economic crisis, Australia has emerged as one of the world leaders in growth

with low inflation.

The Ministerial Council will be held in Paris on 26 and 27 June 2000 and is attended by

Finance, Trade and Foreign Affairs Ministers. The Treasurer, on behalf of Australia, will

chair the meeting.

The Secretary-General of the OECD, Mr Donald J Johnston, will visit Australia from

13-16 October 1999 to promote the work of the OECD. He will be discussing with the

Treasurer preparations for the 2000 Ministerial Council meeting and while in Australia he

will also meet with other Government Ministers.

CANBERRA

11 October 1999