Realizing Indonesia's Golden Vision 2045, Ministry of Economic Affairs Supports Collaboration to Accelerate Indonesia's Membership in OECD

Jakarta, INTI - In order to achieve the goals of the Golden Vision of Indonesia 2045, economic transformation is one of the steps that the Government needs to take to boost inclusive and sustainable national economic growth, aiming to escape the middle-income trap towards becoming a high-income country. The economic transformation includes various sectors, one of which is global and domestic economic integration.

Considering this, strengthening international cooperation efforts plays a crucial role in providing a comprehensive roadmap to drive this economic transformation. Therefore, after playing an important role in various international forums, Indonesia is now prioritizing international economic matters again by expressing its intention to join the Organisation for Economic Co-operation and Development (OECD) through a letter from the Coordinating Minister for Economic Affairs Airlangga Hartarto to OECD Secretary-General Mathias Cormann.

As a follow-up to this expression of intent, the OECD Council has decided to initiate accession discussions with Indonesia on February 20, 2024. This decision follows an assessment by OECD members based on the evidence-based Framework for the Consideration of Prospective Members. Furthermore, the OECD has also drafted and discussed the Roadmap for Indonesia's Membership Accession, which was agreed upon by the OECD Council on March 29, 2024. This process is relatively fast, taking only 7 months since the expression of intent in July 2023.

"The designation of Indonesia as a candidate member of the OECD has gone through various processes, starting from Indonesia's active participation as an OECD partner country to Indonesia's strong economic performance, which has been recognized globally through Indonesia's leadership in the G20 and ASEAN. Moreover, in the last four years, Indonesia's economy has proven to be resilient and has strengthened despite the pandemic and various global economic challenges," said Ministry of Economic Affairs Spokesperson Haryo Limanseto.

Through membership in the OECD, Indonesia can reap several positive impacts, including serving as a catalyst for domestic reforms with accelerated support for expertise, research, and analysis, sharing best practices from over 300 committees and working groups, peer reviews for policy improvement, access to current statistical data, and funding support from various international institutions.

Additionally, these efforts can also boost investment attractiveness by enhancing investor confidence, as OECD member countries are considered capable of implementing high standards. Indonesia can also contribute to shaping global norms through OECD policy discussions, participate in shaping OECD standards related to governance, and expand its global coverage.

Considering the various positive impacts that Indonesia can obtain, the Government believes that it is necessary to accelerate the process of Indonesia's OECD membership accession. Therefore, through Presidential Decree (Keppres) Number 17 of 2024 concerning the National Team for Preparation and Acceleration of Indonesia's Membership in the Organisation for Economic Co-operation and Development (OECD) or the National OECD Team, President Joko Widodo has appointed Minister Airlangga Hartarto as the Chairman of the National OECD Team.

The Ministry of Economic Affairs has been actively involved in the process of Indonesia's OECD membership application and continues to be committed to overseeing this process. Furthermore, Minister Airlangga is scheduled to attend the OECD Ministerial Meeting in Paris, France on May 2-3, 2024. During this meeting, the formal handover of the Roadmap for Membership Accession to Indonesia will take place. Following this stage, Indonesia will conduct a self-assessment of the alignment of national policies and standards with OECD policies and standards.

"Minister Airlangga has been entrusted by President Joko Widodo to lead the OECD as Chairman, where the Ministry of Economic Affairs has effectively overseen Indonesia's economy and structural reforms. Therefore, the Ministry of Economic Affairs supports closer cooperation and collaboration from all parties for the successful acceleration of Indonesia's OECD membership," concluded Ministry of Economic Affairs Spokesperson Haryo Limanseto.