OECD to look over RI's prospects, challenges

The Jakarta Post ,  Jakarta   |  Thu, 07/24/2008 10:40 AM  |  Business

The Organization for Economic Cooperation and Development (OECD) Secretary-General, Angel Gurria, is to launch the OECD's first economic assessment of Indonesia here today.

This will look into macroeconomic policy and performance, business regulations and red tape, product quality, labor policies, social protection and foreign direct investment. It will make recommendations on reforms to help strengthen competitiveness.

Indonesia is not currently a member of the 30-member OECD but is among five non-member countries offered enhanced engagement with a view to possible membership. The other four are Brazil, China, India and South Africa.

OECD is a forum for developed countries strongly committed to the market economy and democracy. South Korea and Japan are the only member countries in Asia.

In May, 2007, the OECD Council of Ministers assigned the secretary general to strengthen OECD co-operation with Brazil, China, India, Indonesia and South Africa through enhanced engagement programs, with a view to possible membership.

The Council will determine whether to open discussions on membership in the light of willingness, preparedness and ability to adopt OECD practices, policies and standards.

During his two-day first official visit here Gurria will meet with President Susilo Bambang Yudhoyono, Finance Minister Sri Mulyani Indrawati, Bank Indonesia Governor Boediono and Foreign Minister Hassan Wirajuda.

They will discuss the country's economic prospects and the OECD's enhanced engagement program.

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