Indonesia’s bid for OECD membership gains traction as the organisation decides to initiate discussions, marking a significant milestone for the country’s economic integration on the global stage.

Finance minister Sri Mulyani and OECD Secretary-General Mathias Cormann (2022)
Source: OECD

INDONESIAN Coordinating Minister for Economic Affairs, Bapak Airlangga Hartarto, announced on 21 February 2024 at the Presidential Palace in Jakarta that the Organization for Economic Cooperation and Development (OECD) has agreed to consider Indonesia’s application for membership, signalling a groundbreaking opportunity for the nation to join as its first Southeast Asian member and the third in Asia after Japan and South Korea.

The decision to commence discussions on Indonesia’s accession was reached during the OECD Council meeting held on Tuesday, 20th February 2024, in response to Indonesia’s expressed interest in becoming a member of the organisation.

Having been a key partner of the OECD since 2007, Indonesia views the organisation as a strategic collaborator in formulating progressive national policies aligned with global standards, making the accession process a significant endeavour for the country’s economic and policy landscape.

Minister Hartarto emphasised that the next phase involves the formulation of a dedicated road map by the OECD to guide Indonesia’s journey toward full membership, focusing on key priority areas such as trade, investment, governance, integrity, environmental protection, and climate change mitigation.

As part of the accession process, Indonesia anticipates working closely with the OECD to ensure regulatory alignment and adherence to international standards, leveraging support from countries like Australia, Japan, Germany, and Slovakia, which have expressed written statements backing Indonesia’s bid for OECD membership.

Source: Antara News