ASIATODAY.ID, JAKARTA – Indonesia is targeting to become a member of the Organization for Economic Co-operation and Development (OECD) in the next three years.
Indonesia became the first country from Southeast Asia to become a member of the OECD.
“We hope that the process of becoming an OECD member can be completed within 2-3 years. “Several countries have experience of joining in 3 years, such as Chile, Estonia, Slovenia, Latvia and Lithuania,” said the Coordinating Minister for the Indonesian Economy, Airlangga Hartarto in a discussion on Indonesia’s accession with the Heads of Representatives of OECD Member Countries at The Langham, Jakarta on Wednesday, 28 February 2024.
The OECD Council has decided to open accession discussions with Indonesia from February 20 2024. According to Airlangga, this is an important event for OECD members and partners.
With the decision to discuss accession, the next step will be taken through the preparation of an accession road map starting with mapping the gap between Indonesia’s policies and OECD standards.
The accession road map that has been prepared is planned to be launched at the OECD Ministerial Meeting in May 2024, following which the process of aligning policies and regulatory standards will be carried out.
“As the first country in Southeast Asia to be invited to open OECD accession discussions and the largest economy in the fastest growing region in the world, Indonesia is determined to deepen integration and open a transformative path towards growth and resilience for all,” said Airlangga.
With broad policy and standard references in various sectors owned by the OECD, Indonesia’s accession process is expected to be able to support sustainable structural reform in Indonesia, as well as support the improvement of policies and regulations according to superior references.
Furthermore, adjustments to standards and policies will also have an effect on increasing the level of global trust, increasing trade and investment, especially regarding technological collaboration and innovation, opening market access for domestic exports, improving the quality of health, education, and employment and infrastructure.
On this occasion, 33 representatives of OECD member countries also expressed support for Indonesia in the accession discussion process that will take place. Having the modalities of being a large democratic country, a stable economy and the implementation of good governance, a number of member countries are optimistic that Indonesia will be able to become full member of the OECD.
Apart from that, representatives of the member countries also believe that the accession process will have a positive impact on both parties, especially for Indonesia as a fundamental support for achieving a Golden Indonesia 2045.
“I congratulate Indonesia for the start of the opening of the accession discussion process, and this is extraordinary because it is a record for a relatively fast decision on accession discussions, in just 7 months,” said United Kingdom Ambassador to Indonesia Dominic Jermey.
To date, the OECD has 38 member countries representing approximately 60% of the value of gross domestic product and global trade.
Indonesia complements 6 other OECD accession candidate countries, namely Argentina, Brazil, Bulgaria, Croatia, Peru and Romania and has the potential to become the 3rd country from Asia, after Japan and Korea, as well as the first country in Southeast Asia.
Having been a Key Partner of the OECD since 2007, Indonesia has a Framework Cooperation Agreement and Joint Work Program, which are prepared based on national priorities and strategic interests of the Indonesian Government. (AT Network)
Check out other news and articles at Google News
Discussion about this post