Coordinating Minister Airlangga Hartarto anticipates OECD membership to elevate Indonesia’s economic status and support key government initiatives
COORDINATING Minister for Economic Affairs Dr. Airlangga Hartarto emphasised that Indonesia’s accession to the Organisation for Economic Co-operation and Development (OECD) would be pivotal in catapulting the nation out of the middle-income trap. Speaking in Jakarta on 21st February 2024. He highlighted the potential for OECD membership to bolster various government priority programmes, including the advancement of green economy initiatives, digitisation, human resource development, and good governance.
Dr. Hartarto underscored that the OECD accession process would serve as a catalyst for elevating Indonesia’s per capita income, marking a significant milestone in the nation’s economic trajectory. He emphasised the necessity for Indonesia to align its policies with OECD standards, a move that would have far-reaching positive implications for the community economy, particularly for micro, small, and medium enterprises (MSMEs) seeking to expand into the global market.
Moreover, Dr. Hartarto noted that adherence to OECD standards could enhance Indonesia’s attractiveness to investors and contribute to the ongoing development of its human capital. This alignment with international benchmarks is expected to foster economic growth and competitiveness on a global scale.
OECD Secretary-General Mathias Cormann hailed the decision to open accession talks with Indonesia as a historic moment, emphasising Indonesia’s pivotal role as the largest economy in Southeast Asia and the third-largest democracy globally. Mr. Cormann expressed confidence that Indonesia’s accession to the OECD would facilitate the nation’s ongoing reform efforts and contribute to its long-term vision of achieving developed country status by 2045.
Mr. Cormann revealed that the OECD and the Indonesian government would collaborate closely on drafting an accession road map outlining the technical review process for aligning domestic regulations with OECD standards. This roadmap will undergo scrutiny by the OECD Council. Indonesia, which has been a key partner of the OECD since 2007, has garnered written support from several countries, including Australia, Japan, Germany, and Slovakia, signalling widespread endorsement for its accession process.
Source: Antara News
