Indonesia Strives To Be A Full Member Of OECD, Airlangga: To Release From The Middle Income Trap

Coordinating Minister Airlangga Hartarto (left) during a press conference with the Secretary General of OECD Mathias Cormann (right) (Photo: Mery Handayani/VOI)

JAKARTA - Indonesia is preparing to be a full member of the Organization for Economic Cooperation and Development or Organization for Economic Cooperation and Development (OECD). Currently, Indonesia is in the process of accessing it to become a full member of OECD.

Coordinating Minister for Economic Affairs (Menko Perekonomian) Airlangga Hartarto said Indonesia's membership in OECD will play an important role in encouraging economic transformation to achieve the vision of Indonesia Gold 2045.

This is because, he continued, this is in line with the principles of OECD regarding good governance, transparency, and inclusive growth that are very much in line with Indonesia's vision to achieve progress and prosperity.

Furthermore, Airlangga also said that the accession process is important to oversee the Indonesian process free from the middle income trap. Including to realize Indonesia as a developed country.

"This OECD acceleration is important to guard Indonesia free from the middle income trap and become a developed country," he said when delivering his opening remarks for the OECD Accession Process workshop in Jakarta, Wednesday, May 29.

In 2045, continued Airlangga, Indonesia aims to achieve Indonesia Gold, which includes the achievement of GNI per capita of 30,300 US dollars, middle class people consisting of 70 percent of the population, and GDP of 9.8 trillion US dollars.

At that time, Indonesia could emerge as the country with the fifth largest economy in the world. And of course political stability is the key to achieving this goal," he said.

In achieving this goal, Airlangga continued, Indonesia requires higher growth, around 6 to 7 percent per year. This needs to be driven by massive investment to break away from the middle-income trap.

"Indonesia's OECD Accession Roadmap is a step towards that vision," he said.

By opening new opportunities for trade, investment, and collaboration, he continued, the OECD Indonesia accession process will provide mutually beneficial benefits for OECD and the Indo-Pacific region.

As a country with growing global power in Asia, Indonesia has been recognized as an important player. By becoming the first OECD member in Southeast Asia and third in Asia, Indonesia will help this organization form global policies and ensure more representative and inclusive OECD," he explained.