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An historic moment happened last week in Paris 🇫🇷 < 2 min read 🇮🇩 Indonesia put its first step forward to access …   … OECD. Before we see why that was an historic moment, let us look at what OECD is. The Organisation for Economic Co-operation and Development (OECD) is an intergovernmental organization based in Paris. It includes 38 member countries in both advanced and emerging economies. It was founded in 1961 to stimulate economic progress and world trade. Its origin dates after the World War II with the Marshall Plan for European reconstruction. The OECD works to build better policies for better lives, shaping policies that foster prosperity, equality, opportunity, and well-being for all. It covers a wide range of policy areas, including: ➡ Social ➡ Economic ➡ Governance ➡ Transparency ➡ Environmental ➡ Statistics and Data ➡ Trade and Investment ➡ Science and Innovation During the OECD Ministerial meeting held in Paris last week, OECD presented the Accession Roadmap to Indonesia. Making Indonesia the first Southeast Asian country to pursue OECD membership. The historic moment. The Roadmap outlines Indonesia's journey towards aligning with OECD standards and best practices. The accession process involves evaluations by 26 technical committees covering the following areas: 1.     Investment & Responsible Business Conduct 2.     Employment, Labour and Social Affairs 3.     Economic and Development Review 4.     Scientific and Technological Policy 5.     Bribery in International Business 6.     Insurance and Private Pensions 7.     Statistics and Statistical Policy 8.     Regional Development Policy 9.     Chemicals & Biotechnology 10.  Trade and Export Credits 11.  Corporate Governance 12.  Senior Budget Officials 13.  Environment Policy 14.  Public Governance 15.  Financial Markets 16.  Regulatory Policy 17.  Consumer Policy 18.  Education Policy 19.  Digital Policy 20.  Shipbuilding 21.  Competition 22.  Fiscal Affairs 23.  Agriculture 24.  Fisheries 25.  Health 26.  Steel Recommendations from these evaluations may lead to reforms in Indonesia's legislation and policies. There's no fixed deadline for completion, and the timeline depends on Indonesia's progress in alignment. The process is estimated to be completed in 2026 or 2027. Ultimately, OECD Member countries will make a unanimous decision regarding Indonesia's membership invitation. Indonesia, the Southeast Asia’s largest economy hopes to attract more investment and trade deals by becoming OECD member. I am ILANN AMRAM 🇲🇫 🇮🇩, cofounder of CINTASIA 🇲🇫 🇮🇩 , we bring your technology and industrial equipment to Indonesia and Asean. PS: The OECD 38 member countries are split in 3 groups of 4, 6 and 28 countries in 3 continents Americas, Europe, Asia. Connect the right numbers to the right continents. Answer in comments and win a refreshing cold Bintang on a trendy rooftop bar in Jakarta. Source and picture : OECD website.

Indonesia aims to become OECD member in 2 to 3 years, senior minister says. "Indonesia aims to complete the accession to become the member of Paris-based Organisation for Economic Co-operation and Development (OECD) within two to three years, a senior cabinet minister said late on Wednesday. The Southeast Asia’s largest economy hopes to attract more investment and trade deals by becoming OECD member. The statement came after OECD, which has 38 member countries, decided last week to open discussion for Indonesia’s accession, following its application last July." https://lnkd.in/eCQJ433J OECD makes historic decision to open accession discussions with Indonesia. https://lnkd.in/eQXpS2ky

As Indonesia progresses towards joining the OECD, experts weigh the potential benefits and drawbacks of this decision, highlighting the strategic considerations and economic impacts. Read more: https://lnkd.in/gNv4x-hu

Indonesia's bid to join the Organization for Economic Co-operation and Development (OECD) by 2027 marks a significant step in its economic and political evolution. As the largest economy in Southeast Asia, Indonesia's accession talks with the OECD ho https://lnkd.in/e8TybDgu

Another consequence of joining the OECD is that Indonesia's Government would need to ensure that companies adhere to the OECD Guidelines on Responsible Business Conduct, including by ensuring that companies carry out human rights and environmental due diligence (which in any event is more and more and important for Indonesian businesses seeking to be involved in global value chains).

Exciting times for Thailand and Indonesia! 🌏 Both countries are bidding to join the #OECD, aiming to be the first Southeast Asian members. Will this move spark significant economic growth and bring essential reforms by joining an elite club? #EconomicDevelopment #Reforms #SoutheastAsia #Thailand #Indonesia #GlobalEconomy #Geopolitics https://lnkd.in/gihbzU-h

The opening of accession talks with #Indonesia and #Thailand for OECD membership is a remarkable moment in the history of this organization. In this context, I cannot help but reflect on the phenomenal work of our team in deepening this partnership with South-East Asia: The #OECD #Global Relations and Cooperation (GRC) Directorate's South and South-East Asia Division (SASEA). The South-East Asia Regional Programme (SEARP) is the flagship programme of our team. Launched in 2014, SEARP has made great strides in strengthening the cooperation between the OECD and South-East Asia. By supporting domestic reform priorities, providing a platform for the sharing of best practices, and mutual dialogue in areas such as #SustainableGrowth, #Investment, #Education, and #SustainableInfrastructure, the OECD is proving to be a formidable partner for the region's growth. Indeed, the opening of the accession talks with #Thailand and #Indonesia is a major success for the SEARP Programme. Closer partnership with countries in the region, in line with the OECD's Strategic Framework for the Indo-Pacific, would lead to further mutual gains for all sides involved. It has endless possibilities. In the days ahead, deepening the decades-long cooperation with the "Key Partners" such as #India could provide further avenues for working together as equal partners in achieving "Better policies for better lives". To learn more about the OECD's South-East Asia Programme (SEARP), please refer to: https://lnkd.in/ezBzyXrk

What would be Indonesia's main challenges in joining OECD? I talked with Amy Sood for a story at South China Morning Post SCMP and I underscored four important issues that could emerge when Indonesia want to join OECD: (1) commitment from the incoming Prabowo government to garner more trust from Western investors, given Indonesia's bureaucracy and investment climate; (2) past human rights issues and serious commitment to resolve this to garner more trust; (3) 'Israel dilemma' especially as the membership should be unanimously approved by all OECD members; and (4) geopolitical and geoeconomic consideration, given Indonesia's close relationship with China.

The Organisation for Economic Cooperation and Development (OECD) has decided to process Indonesia's bid to become its new member, making Indonesia the first Southeast Asian country and the third Asian country after Japan and South Korea to potentially join the organisation. The OECD Council has agreed to open discussions on Indonesia's accession, following the country's expressed interest in joining. Indonesia has been a key partner of the OECD since 2007, and the organisation's support will help Indonesia in formulating progressive national policies. A road map will be developed to guide Indonesia towards meeting OECD standards, focusing on issues such as free trade, governance, integrity, and environmental protection. With support from other countries, Indonesia's accession to the OECD is seen as a significant step towards enhancing its global standing, attracting investments, and promoting economic growth. #BritChamID #Indonesia #EconomicGrowth

Update from Indonesia 🇮🇩 With the newly-established cabinet under Prabowo’s leadership, we need to identify the go-to-person in terms of economic cooperation. These three names might catch your bigger attention: Luhut Binsar Pandjaitan, formerly positioned as the Coordinating Minister for Maritime Affairs and Investment during Jokowi’s time, or often called as the “Man for any Roles” is also taking part in Prabowo’s government. A few days ago, he was inaugurated as the Chair of the National Economic Council (NEC) and also the Presidential Special Advisor on digitalization and government technology. The role is undoubtedly playing a significant part in Indonesia’s foreign investment, and directed to the national focus such as downstreaming, infrastructure development and poverty alleviation. With little information today, I must say that the NEC is expected to be much more influential than Luhut’s ministry in the previous administration. Airlangga Hartarto re-seated the Coordinating Minister of Economy role, in charge of overseeing several key strategic ministries which includes the Ministry of Industry; Trade; Energy and Mineral Resources; State-owned enterprises; and also the Ministry of Investment and Down streaming. One of the prominent moves under Airlangga’s supervision was the accession to OECD, which will affect domestic policy reforms to meet the ‘developed states’ standards, among others is the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP). Although yet to bear any official title, Hashim Djojohadikusumo, the younger brother of President Prabowo, appeared actively to share Prabowo's direction regarding the government’s economic priorities. On many occasions, he was vocally talking about Prabowo’s concerns on existing poverty, public housing and lack of industrialization strategy. In the coming weeks, he will represent Indonesia at the COP-29 negotiation in Azerbaijan, raising the country's interest to push the carbon trade agenda. Let us carefully see how these three key figures work in achieving Indonesia’s economic goals!