While Indonesia has recently strengthened its ties with BRICS, its commitment to joining the Organisation for Economic Co-operation and Development (OECD) remains unwavering. The government has reiterated its determination to expedite the accession process, seeing it as a vital step for aligning the country’s economic policies with global standards.
Edi Prio Pambudi, Deputy for International Economic Cooperation Coordination, explained that joining the OECD is not just about membership but also about adapting to a future where global competition is increasingly shaped by compliance with international standards.
“Why is the OECD important to us, especially in supporting economic integration? Because in the future, competition will be based on standards,” Edi said during the 9th ASEAN-OECD Good Regulatory Practices Network (GRPN) meeting in Jakarta on Thursday, November 28, 2024.
The meeting, titled “Shaping the Future: Building Better Regulations for Tomorrow,” underscored the importance of aligning ASEAN’s integration efforts with global benchmarks.
No Timeline for Indonesia to Joining OECD, But Progress Is Underway
OECD Secretary-General Mathias Cormann acknowledged the ongoing efforts to bring Indonesia into the organization but noted that the process takes time. “There is no set deadline. The process will proceed as quickly as possible, but it does take time,” Mathias told reporters at the Presidential Palace Complex in Jakarta.
Cormann emphasized that Indonesia faces no significant hurdles in joining the OECD. Instead, the focus remains on ensuring that reforms benefit the nation’s citizens, particularly through better income levels and higher living standards.
Read also: Kuta Beach Bali Faces Threat of Disappearance! Here’s Why
He also highlighted the importance of recent bilateral endorsements from key global leaders, including U.S. President Joe Biden and U.K. Prime Minister Keir Starmer, in advancing Indonesia’s OECD aspirations. According to Cormann, these endorsements underscore Indonesia’s strong commitment to achieving OECD membership.
“I look forward to working with their team to accelerate and streamline this process,” he added.
Strategic Goals for ASEAN and Beyond
Indonesia views its OECD accession as a strategic move to bolster economic integration within ASEAN and support the region’s long-term sustainability goals. Edi Prio Pambudi pointed out that aligning with OECD standards would help the country navigate the challenges of global competition while fostering regional economic inclusivity.
The government has remained steadfast in its dual approach: strengthening relationships with organizations like BRICS while pursuing OECD membership. This balanced strategy reflects Indonesia’s commitment to both regional and global economic collaboration.
As the process continues, Indonesia’s engagement with the OECD is expected to bring significant reforms, ensuring that the nation not only meets global standards but also enhances the welfare of its people. The road ahead may require patience, but the government’s focus on aligning with international norms signals a promising trajectory for Indonesia’s economic future.
