OECD membership could boost RI's export market: Hartarto

Jakarta (ANTARA) - Coordinating Minister for Economic Affairs Airlangga Hartarto has said that Indonesia’s accession to the Organisation for Economic Co-operation and Development (OECD) could help the country expand its export markets and attract more global investment.

He highlighted that the 38 OECD member countries are mostly developed nations that control around 75 percent of global trade, presenting a significant opportunity for Indonesia to increase the export of its goods and services to a more competitive global market.

“Of course, this will also make our products more competitive and allow us to access a larger market,” he said during a virtual press conference held in Jakarta on Thursday.

Hartarto added that joining the OECD would also place Indonesia within a network of countries that apply high-standard economic policies.

This, he explained, could enhance investor confidence in Indonesia’s economic stability and future prospects amid the ongoing global economic slowdown.

“In the short term, investor perception and interest in countries that apply the same best practices should be able to grow more quickly and strongly, despite the global economic slowdown,” he remarked.

Meanwhile, Indonesia’s Ambassador to France, Mohamad Oemar, emphasized additional benefits of OECD accession, particularly the potential for greater access to international funding sources.

The OECD is recognized as the main coordinator of various official development assistance (ODA) institutions, overseeing around 90 percent of global development aid.

While Indonesia does not depend on development assistance, its participation in the OECD would allow it to contribute to the development of global policies supporting other developing countries.

“It’s not that Indonesia depends on development assistance, but by joining the OECD, we can participate in discussions and help shape strategies to support countries in need, alongside other OECD members,” Oemar said.

He also noted that around 70 percent of global foreign capital flows originate from OECD member countries. Therefore, OECD membership could improve Indonesia’s access to international investment, supporting the country’s national development goals.