The Cook Islands has signed up to the OECD's initiative on harmful tax practices by committing to improve transparency and establish an effective regime for exchanging tax information by the end of 2005.
The Cook Islands will not be included in the list of uncooperative tax havens, to be issued by the group of rich nations shortly.
The territory was among 35 jurisdictions identified by the OECD in June 2000 as meeting the technical criteria for being a tax haven.
The Cook Islands will now be entitled to participate in the meetings of the OECD's Global Forum to discuss the design of standards for the implementation of these commitments.
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