Former Australian Finance Minister elected new OECD Secretary-General

The Organization for Economic Cooperation and Development (OECD) announced on March 12 that it has elected Mathias Cormann, the former Finance Minister of Australia, as its new Secretary-General. He will take over from current head Ángel Gurría on June 1 and serve a five-year term.

Cormann's entire career has been in politics, working first as political staff and then as an adviser. He served as Australia's Finance Minister from 2013 to 2020 and also as the Liberal Party senator for Western Australia from 2007 to 2020. In July 2020 he stepped down from politics, only to be nominated as a candidate for OECD leadership in October.

As OECD Secretary-General, he will be expected to oversee its current efforts to review global agreements on the taxation of cross-border trade. The OECD is taking aim in particular at the digital economy, including e-commerce and the provision of digital services internationally—issues which have become all the more urgent given the digitalization boom resulting from the pandemic.

Australian Prime Minister Scott Morrison said the appointment is “recognition of Australia’s global agency and standing amongst fellow liberal democracies and our practical commitment and contribution to multilateral co-operation. This is a great honour for Mathias who has worked tirelessly over several months to engage with leaders, senior ministers and officials of OECD member nations from Europe, Asia and the Americas.”

According to reports from the Australian Associated Press, Cormann has said that he will focus on raising employment and living standards following the COVID-19 pandemic.

Photo: Commonwealth of Australia