Selangor Journal
A general view of the city skyline of Jakarta, the capital city of Indonesia, on August 5, 2021. — REUTERS

Seeking OECD membership, Indonesia reviews economic policies

JAKARTA, May 29 — Indonesia will start reviewing a wide range of economic policies as it seeks to become the first Southeast Asian member of the Organisation for Economic Co-operation and Development (OECD), said a senior minister today.

Indonesia has set a target to become an OECD member within three years after the Paris-based group opened accession discussions with Indonesia in February.

Jakarta hopes such membership will bring more investment and trade deals for Southeast Asia’s largest economy.

OECD, which has over 30 member nations, is an international organisation that advises its members on public policy, including social, economic, and environmental issues.

Indonesian authorities will review policies in more than two dozen areas of focus, including taxation, digital economy, and anti-corruption regulations, to ensure they align with OECD standards, said Airlangga Hartarto.

The country’s chief economic minister was speaking at a press conference during a workshop to launch the accession process.

Speaking alongside Airlangga at the launch, OECD secretary-general Mathias Cormann pledged to support Indonesia’s efforts to expedite the accession process, though he said the country’s self-set time table was ambitious.

“Let us go as fast as possible, but let us also take the time necessary to ensure the reforms that are being pursued as part of this process have the necessary public support, can be sustainable over time, and can generally deliver all the benefits we want to achieve for the people of Indonesia,” he said.

This week, Cormann met with outgoing President Joko Widodo and president-elect Prabowo Subianto, who will succeed Widodo in October.

— Reuters

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