Thursday, April 25, 2024
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HomeBusinessOECD to open accession discussions with Indonesia

OECD to open accession discussions with Indonesia

PARIS, France – The Council of the OECD has decided to open accession discussions with Indonesia. This follows many years of increased engagement and co-operation with Indonesia as an OECD key partner country since 2007 and through successive Joint Work Programmes covering the broad spectrum of economic, social and environmental policy reform.

In 2014, Indonesia also helped launch the OECD’s Southeast Asia Regional Programme, serving as one of its inaugural co-chairs.

“Today’s decision by OECD members is historic. Indonesia’s application is the first from Southeast Asia, one of the most dynamic growth regions of the world,” OECD secretary-general Mathias Cormann said. “As the largest economy in Southeast Asia and the world’s third-largest democracy, Indonesia is a significant global player, providing important leadership across its region and beyond” he said. “The decision to open accession discussions will benefit both Indonesia and the OECD.”

“OECD accession has proven to have a positive transformational impact in accession countries, helping to deliver better policies for better lives. Through the accession discussions the OECD will provide support to Indonesia as it continues on its ambitious reform journey towards achieving its vision of becoming an advanced economy by 2045.”

“Importantly, Indonesia engaging in this process with the OECD as an accession country will also help to further strengthen our Organisation’s global relevance and impact”, Cormann said.

The decision to open accession discussions follows an assessment by OECD Members on the basis of its evidence-based Framework for the Consideration of Prospective Members.

A draft accession roadmap for the technical review process will now be prepared by the secretary-general for the consideration of the OECD Council at its next meeting.

The review process will include a rigorous and in-depth evaluation by more than 20 technical committees of Indonesia’s alignment with OECD standards, policies and best practices.

As a result of these technical reviews, recommendations will be made on further areas for reform, to align Indonesia’s legislation, policies and practices with OECD standards and best practices.

The technical reviews will cover a wide range of policy areas and will focus on priority issues including open trade and investment, progress on public governance, integrity and anti-corruption efforts, as well as the effective protection of the environment and action to tackle climate change.

There is no deadline for completion of the accession processes. The outcome and timeline depend on the accession country’s capacity to adapt and adjust to align with the Organisation’s standards and best practices.

Once all the technical committees have completed their reviews and consistent with article 16 of the OECD Convention, a final decision to issue an invitation to join will need to be taken by unanimity of all OECD members.

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