Organization for Economic Development and Cooperation (OECD) — An international organization established by the United States, Canada and certain Western European countries in 1960. The OECD studies and discusses trade and related matters. Its current 29 members include the United States, Canada, the 15 countries of the European Union, Australia, New Zealand, Japan, and Turkey. More recently, Mexico, the Czech Republic, Hungary, Poland and South Korea have become OECD members.