Indonesia is Close to Becoming an OECD Member, Already Supported by 38 Other Members

Indonesia is Close to Becoming an OECD Member, Already Supported by 38 Other Members
Indonesia is Close to Becoming an OECD Member, Already Supported by 38 Other Members (photo: mucglobal)

The pathway for Indonesia’s potential membership in the Organisation for Economic Co-operation and Development (OECD) appears promising, with an estimated completion time of just 3 years. This optimism stems from Indonesia garnering unanimous support from all 38 OECD member nations.

During a recent statement, Airlangga Hartarto, the Coordinating Minister for Economic Affairs, expressed confidence in Indonesia’s journey towards OECD membership. He highlighted the unanimous backing received from all 38 member countries, emphasizing their belief in Indonesia’s candidacy.

A significant milestone was reached on February 20, 2024, when the OECD formally initiated the accession process for Indonesia. This pivotal decision sets the stage for the formulation of an accession roadmap, which will involve aligning Indonesia’s policies with OECD standards.

Airlangga outlined the next steps in Indonesia’s accession process, which include conducting a comprehensive gap analysis to identify areas where Indonesia’s policies can be harmonized with OECD norms. The Accession Roadmap, once finalized, will be unveiled during the OECD Ministerial Meeting scheduled for May 2024.

While discussing the timeline for accession, Airlangga highlighted examples of countries like Chile, Estonia, Slovenia, Latvia, and Lithuania, which successfully completed the accession process within a similar timeframe.

Moreover, on the evening of Wednesday, February 28, 2024, Indonesia engaged in accession discussions with representatives from 33 OECD member nations. These discussions underscored the mutual belief among OECD member states that Indonesia’s accession would yield positive outcomes for both parties.

Airlangga emphasized the broader implications of Indonesia’s OECD membership, citing its potential to support sustainable structural reforms and enhance policy formulation and regulation in line with international best practices.

It is worth noting that the Organisation for Economic Co-operation and Development (OECD) is an international organization headquartered in Paris, France. Comprising 38 member countries, the OECD strives to develop policies that foster prosperity, equality, and well-being globally.

In addition to member countries, the OECD collaborates closely with key partners such as Brazil, China, India, Indonesia, and South Africa. Together, they work to address shared challenges, establish global standards, and promote policy excellence.

Through its extensive research, analysis, and recommendations, the OECD serves as a valuable resource for member and non-member countries alike, offering guidance and insights to inform policy decisions and drive socio-economic progress.