Israel is accepted as newest member of OECD in a key diplomatic victory

Israel gained acceptance in the exclusive club of prosperous and developed economies after a 16-year effort to join the Organization for Economic Cooperation and Development (OECD). A country that, when founded, was a tiny and mostly agricultural economy, has grown into a global powerhouse of technology and innovation. Not a single Arab country has qualified for the OECD. Economist estimate that additional billions in investment dollars now will pour into Israel. That, along with the recent discovery of massive quantities of natural gas off of its shore, indicates that Israel is well on its way to becoming an economic powerhouse. Prime Minister Netanyahu stated that Israel's goal is to become one of the world’s 15 largest economies.