In May 2012, the OECD Council at Ministerial level adopted the OECD Strategy on Development. The Strategy aims to strengthen OECD’s contributions to “higher and more inclusive growth in the widest array of countries”, promote further OECD engagement with Partner countries and foster better mutual understanding and cooperation. As an OECD horizontal initiative, the Policy Dialogue on Natural Resource-based Development is an integral part of this endeavour.
It aims at establishing a multi-year structured process to foster knowledge sharing and peer-learning among producing countries – OECD member and partner countries alike – on how to best harness natural resources for more inclusive and broad-based development. For the purposes of the first cycle 2014-15, natural resources are understood as endowments in non-renewable commodities in the extractive sector (oil, gas, coal, metals and minerals).