Romania’s accession to the Organisation for Economic Co-operation and Development (OECD) marks the most important strategic moment in foreign policy since joining NATO and the European Union (EU), says Partner, EY Romania and Moldova Tax & Law Services Leader Alex Milcev.

‘It can be said, without fear of being mistaken, that Romania’s accession to the Organisation for Economic Co-operation and Development (OECD) marks the most important strategic moment in foreign policy since joining NATO and the European Union (EU). Moreover, we are talking about the culmination of a long, technical process, sometimes frustrating and perhaps less visible to the public, but with huge economic implications for the coming decades. Romania is entering the ‘club of the world’s most advanced economies,’ and this status fundamentally changes how our country is perceived by investors, international financial institutions and global markets alike. Because accession, beyond the concrete benefits I will outline below, also represents a strong signal of confidence for the investors we continue to need,’ Alex Milcev said in an analysis sent to AGERPRES on Monday.

In his view, if Romania’s OECD accession were to be summarised in two main advantages, these would be, first, the reduction of the state’s borrowing costs and, second, easier access to global capital, accompanied by a shift in investor perception.

‘It is not just a matter of perception, but often a legal and governance issue. More specifically, there are certain international funds, particularly pension funds, with restrictive internal investment rules: for example, they prefer not to invest or are even unable to invest in non-OECD countries. Romania’s accession will automatically open access to such funds, with an impact on the financing of infrastructure, large companies and the technology sector. In addition, of course, the mere perception of joining the OECD will contribute to our country’s attractiveness and to the attention of financiers,’ Alex Milcev explains.

According to the ‘OECD Economic Survey: Romania 2026,’ the country is in a phase where structural reforms are essential to overcome persistent vulnerabilities: a high budget deficit (9.3% of GDP in 2024), still elevated inflation (8.5% in January 2026) and uneven productivity between Romanian firms and foreign companies.

‘But this is precisely where OECD accession becomes a catalyst, at least in light of the details explicitly set out about Romania in the OECD report, as follows: 1. Accelerating economic convergence – Romania has made remarkable progress, from 43% of the OECD average GDP per capita in 2004 to 71% in 2024. The OECD shows that, through the recommended reforms, growth potential could increase by over 15% by 2060. 2. Fiscal modernisation and budgetary discipline, because accession effectively comes with beneficial ‘pressures’: accelerated fiscal digitalisation, reduction of tax evasion (currently the highest VAT non-compliance rate in the EU – around 30%), reform of the tax structure (dividends, micro-enterprises, property). And, speaking of ‘beneficial pressures,’ an immediate effect of OECD signals was that Romania dropped in January 2026 the fiscal restrictions on intra-group services under OECD pressure, a sign that even the prospect of membership visibly changes how the state makes fiscal decisions,’ Alex Milcev says.

According to the analysis, the OECD identifies areas where Romania is already performing well, including high productivity in subsidiaries of foreign companies, deep integration into global value chains and a still highly competitive IT sector. It also highlights areas where accession will drive modernisation, such as innovation and R&D (currently only 0.5% of GDP), business digitalisation, reducing bureaucracy and outdated regulations and infrastructure reform. In light of all the above, it is almost redundant to say that, through access to standards and periodic assessments, Romania will improve its competitiveness. The OECD estimates that full implementation of the recommended reforms could increase Romania’s development potential by over 15% by 2060, a rare leap for a European economy.

‘OECD accession is more than political validation – it is confirmation that Romania can align with the economic standards of the most advanced states and can secure its long-term development. It will be a historic moment, comparable in importance to joining NATO and the EU,’ Alex Milcev added in his analysis.

EY is one of the largest professional services firms globally, with 406,209 employees in over 700 offices in 150 countries. Present in Romania since 1992, EY provides, through its more than 1,000 employees in Romania and the Republic of Moldova, integrated services in audit, tax, legal, strategy and transactions and consulting to multinational and local companies. AGERPRES (RO – writing by: George Banciulea; EN – writing by: Adina Panaitescu)