Service sector upgrade key for Indonesia’s OECD bid

By Pune Media On Oct 24, 2024 16

Jakarta (ANTARA) – Indonesia must enhance its service sector to meet global standards in preparation for its accession to the Organisation for Economic Co-operation and Development (OECD).

The ministry’s Director General of International Trade Negotiations Djatmiko Bris Witjaksono, here on Thursday, highlighted strong global demand for Indonesia’s services in tourism, education, information technology, and finance.

“The service sector plays an important role in Indonesia’s economy, making a significant contribution to employment, innovation, and the gross domestic product (GDP) growth,” Witjaksono noted in an OECD seminar.

Indonesia’s accession to the OECD as a full member will significantly boost export potential in the service sector.

However, Indonesia has to face several challenges, such as meeting global standards, increasing competitiveness, and implementing policy reforms.

“To fully take advantage of the international trade potential, we must continue to evolve our policies to meet global standards and address the challenges that hinder our growth,” he emphasized.

Full OECD membership would benefit Indonesia by improving its macroeconomy and boosting exports, imports, trade balance, GDP growth, and investment.

Indonesia’s OECD membership will also provide myriad benefits by enabling active participation in global norm-setting, enhancing the economic profile and reputation that will boost trade and investment, and expanding global market access reach.

Meanwhile, the Ministry of State Apparatus Empowerment and Bureaucratic Reform (PAN-RB) revealed that it is currently developing a world class bureaucracy (WCB) instrument to align government standards with OECD requirements.

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