Israel opened talks on joining the Organization for Economic Cooperation and Development.
Finance Minister Roni Bar-On and Central Bank Governor Stanley Fischer hosted OECD Deputy Director-General Thelma Askey in Jerusalem on Monday to discuss Israeli accession to the 30-member group, which coordinates among industrialized nations on matters of economic policy.
Israel was among a handful of emerging market countries invited to join the OECD last year, a mark of international confidence in its economy. But Fischer noted that Israeli economic reform is still required.
Neither Israel nor the OECD said when the membership negotiations would be wrapped up.