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Indonesia’s protectionist policies could contravene OECD membership
OECD committees may recommend changes to Indonesia’s legislation, policy and practices to bring them further into line with OECD standards and best practices.
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Coordinating Economic Minister Airlangga Hartarto receives the road map for Indonesia's Organisation for Economic Co-operation and Development (OECD) membership accession at the opening of the OECD Ministerial Level Meeting in Paris on Thursday.
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ndonesia has made further progress toward joining the Organisation for Economic Co-operation and Development (OECD) after the country received its own accession road map to joining the club, but analysts warn there will be a price to pay despite the benefits.
OECD secretary-general Mathias Cormann formally delivered the accession road map to Coordinating Economic Minister Airlangga Hartarto in Paris on Thursday.
The road map sets out the terms, conditions and process for accession and reflects priority areas identified by OECD members that are required for accession.
“The accession road map sets out the path for Indonesia to achieve alignment with OECD standards and best practices, anchoring a reform agenda in support of its vision of becoming an advanced economy by 2045,” Cormann said in a press statement on Thursday.
During the ensuing accession process, Indonesia will face a series of technical reviews that cover open trade and investment, public governance, integrity and anticorruption efforts, as well as effective protection of the environment and action on the climate, among many other areas of public policy.
At the end of the process, the OECD council will come to a decision on whether to invite Indonesia to accede to membership.
The OECD is known as the “rich-country club” with its state members representing 80 percent of the world’s trade and investment.
