Indonesia Targets to Become an OECD Member within Three Years

Please note that this article was automatically translated using Microsoft Azure AI, Open AI, and Google Translation AI. We cannot ensure that the entire content is translated accurately. If you spot any errors or inconsistencies, contact us atCoordinating Minister for the Economy Airlangga Hartarto and Deputy Minister of Trade Jerry Sambuaga walked out of Merdeka Palace after attending a closed meeting on Indonesia's membership in the OECD, led by President Joko Widodo, on Thursday .

Following the President's directives, we will establish a PMO under the office of Kemenko , which will encompass all ministries to oversee the transformation process towards becoming a member of the OECD.Previously, President Jokowi welcomed Indonesia's acceptance as a member of OECD. Membership in the OECD, according to the President, will help Indonesia escape the middle-income trap and even push Indonesia to become a developed country soon.

The Ministry of Foreign Affairs is also preparing the Indonesian Embassy in Paris to not only handle Indonesia-France bilateral relations, but also support Indonesia-OECD relations. Currently, as an accession country in the process of becoming a full member of the OECD along with Indonesia, there are Argentina, Brazil, Croatia, Peru, Bulgaria, and Romania. They have been in the process for an average of more than two years. Brazil has even been processing various requirements and standards to become a full member of the OECD for almost five years.Usually, according to Airlangga, the accession process for a country takes no less than three years.

Many ministries/agencies will also become partners of OECD Committees. KLHK will partner with OECD Committee 8 related to policy and environment, as well as with Committee 9 related to chemicals and biotechnology."We are ready to become their partner," he added. Airlangga believes that Indonesia's entry as a member of the OECD will have a positive impact, especially in terms of investment, gaining good practices globally, and will give confidence to Indonesia to enter the semiconductor ecosystem. By having standards as an OECD member, sovereign wealth funds can also safely enter Indonesia. So far, sovereign wealth funds have entered Singapore before spreading to other countries.

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