Indonesia A Step Closer to Becoming An OECD Member
Indonesia is one step closer to becoming an Organisation for Economic Cooperation and Development (OECD) member, a significant milestone as the first Southeast Asian nation to join the OECD. It becomes the third country in Asia (after South Korea and Japan) to join.
A Historic Achievement Indeed
Indonesia becoming an OECD member is a historic decision by the council. Since 2007, Indonesia has been engaging with the OECD as a key partner. It had a crucial role to play in helping the Indonesian Government create internationally recognised and progressive policies. The OECD Council assessed Indonesia’s application and evaluated it against the evidence-based framework for the Consideration of Prospective Members.
What Are the Benefits of Being An OECD Member?
One of the benefits Indonesia will gain by becoming a member is attracting more investments into the country, along with enhanced global competitiveness. Being a member also means Indonesia could potentially improve the quality of human resources, advance its digitalisation efforts, and support green economy initiatives.
Additionally, Indonesia will also get support from the OECD itself, which supports its member countries in addressing the challenges it may face. For example, the council tailored policy advice and recommendations on the best course of action after analysis.
Being an OECD member also boosts Indonesia’s reputation. The country already has the support of nations like Germany, Australia, Slovakia, and Japan to become part of the OECD. By becoming a member, Indonesia’s reputation will be bolstered on a global scale. As a member, Indonesia will be in a position to help shape global policy and help develop international standards and norms.
What Comes Next
The OECD will provide Indonesia with a tailored roadmap to help it on its journey to becoming an OECD member. This roadmap will help Indonesia address the necessary areas: integrity, free trade and investment, climate change mitigation, public governance, environmental protection, and corruption prevention.
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