Brazil's President Jair Bolsonaro on Wednesday welcomed US backing for the Latin American country's bid to join the Organization for Economic Cooperation and Development, after Washington previously supported its rival Argentina for the candidacy.

Bolsonaro's comments came after Foreign Minister Ernesto Araujo announced the US decision on Twitter late Tuesday, saying it proved Brazil was "building a solid collaboration with the United States."

"The news (of US support) was very welcome," Bolsonaro told reporters in Brasilia.

"There are more than 100 requirements to be admitted to the OECD. We are very advanced, even ahead of Argentina," the far-right leader added.

Bolsonaro would not be drawn on a timeline for Brazil's inclusion in the group of rich democracies, saying it "depends on other countries."

Brazilian daily Folha de Sao Paulo reported Tuesday that Washington had contacted the OECD stating its support for Brazil to be the next country added to the group.

Bolsonaro's hopes for Brazil to enter the OECD were dealt a blow in October when reports said Washington had sent a letter to the group backing Argentina and Romania to join. It reportedly did not mention Brazil.

The news at the time undermined Bolsonaro's claims of close ties with US President Donald Trump, who had previously offered to support Brazil's candidacy.

Secretary of State Mike Pompeo later reassured Brazil that it still had US backing.

The election victory of Argentina's center-leftist President Alberto Fernandez and his running mate Cristina Kirchner in October may have helped Brazil's cause.

The OECD comprises of 36 countries. In Latin America, only Chile and Mexico are members.