Jakarta (ANTARA) - Indonesia's Trade Minister Zulkifli Hasan discussed Australia's support regarding Indonesia's candidacy as Organization for Economic Cooperation and Development (OECD) full member while meeting Australian Trade and Tourism Minister Don Farrell in San Francisco, Nov 15.

"I express my gratitude for Australia's positive response to Indonesia's candidacy as a full member of the OECD. I also ask Australia to support Indonesia, so that it can become a full member of the OECD," Hasan noted in a written statement from the Trade Ministry in Jakarta, Friday.

The minister echoed Indonesia's hopes that the OECD membership would be more inclusive through greater involvement for developing countries.

Indonesia's accession to OECD is expected to provide benefits for both parties. It is hoped that Indonesia's participation will encourage improvements in the quality of trade policies.

"Indonesia's membership in the OECD is expected to further encourage improvements in the quality of trade policies, while the OECD will benefit from Indonesia's membership as a representative of the global south and emerging economy," he stated.

Currently, Indonesia is in the stage of reviewing OECD Standards and Guidelines that are relevant to national regulations as well as forming a special National Team to handle Indonesia's membership in OECD.

Indonesia hopes for Australia's support, so that the preparation of Indonesia's Roadmap to Accession can be agreed upon at the 2024 OECD Ministerial Meeting.

At the meeting, the minister stated that Indonesia's trade with Australia was good, but it still needed to be improved, so that the trade balance between both nations was balanced. Apart from that, Indonesia and Australia need to explore the potential for bilateral cooperation, especially in the field of services trade.

"Indonesia's trade with Australia needs to be further increased, so that the trade balance between the two countries is balanced. I also ask us to explore bilateral cooperation, especially in the field of trade in services, such as labor," the minister stated.

During the January-September 2023 period, the trade value between Indonesia and Australia was recorded at US$9.22 billion, down 7.35 percent, from US$9.94 billion recorded during the same period in the previous year.

Meanwhile, in 2022, total trade between the two countries was recorded at US$13.33 billion. During the 2018-2022 period, total trade between the two countries has continued to experience a positive trend.

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Translator: Maria Cicilia Galuh Prayudhia, Cindy Frishanti Oct
Editor: Azis Kurmala
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