Jakarta (ANTARA) - Coordinating Minister for Economic Affairs, Airlangga Hartarto, said that synchronizing various regulations with the standards set by the Organization for Economic Cooperation and Development (OECD) is the main challenge in Indonesia’s accession process.

“The challenges are, of course, benchmarking regulations with the best practices and bringing all ministries to be on the same page,” he noted in a press conference in Jakarta on Wednesday.

Hartarto pointed out that the challenge of synchronizing policies is not only faced by the central government but also by regional governments, which will also participate in implementing harmonized regulations later.

Currently, Indonesia is focusing on preparing an initial memorandum to meet the standards and requirements for full membership in the OECD. The memorandum will be a tool for Indonesia to convey the reform that it will carry out to the world.

The initial memorandum covers 26 sectors, including the financial, economic, anti-corruption, healthy competition, consumer policy, digital economy, and technology policy sectors.

Hartarto explained that during the accession process, the OECD National Acceleration Team would involve all parties related to the 26 sectors to complete the memorandum.

"We are already a member of the FATF (Financial Action Task Force), and we also have transparency, for instance, (showcased through) the KNKG (National Committee on Governance Policy)," he remarked.

On the same occasion, OECD Secretary-General Mathias Cormann stated that the OECD accession process could help design the momentum for future reform.

Accession to the OECD will help to continue the positive transformation of the country's economy and help boost people's income and living standards to support Indonesia's goal of becoming a developed country by 2045.

Cormann explained that the process encompassed liberalizing development, facilitating trade and investment, encouraging the development of new infrastructure, ensuring high-quality and accessible education to further improve the business environment in Indonesia, and driving digital transformation.

Related news: Indonesia begins drafting memorandum for OECD membership
Related news: OECD supports improved investment climate in Indonesia: Minister

Translator: Bayu Saputra, Raka Adji
Editor: Anton Santoso
Copyright © ANTARA 2024