Indonesia Seeks to Join BRICS, Economist Suggests Indonesia Also Join OECD

Indonesia‘s Strategic Move: Aiming for BRICS and OECD Membership

TEMPO.CO, Jakarta – In a bold and strategic proposition, Wijayanto Samirin, an economist from Paramadina University, suggests that Indonesia has a unique opportunity to enhance its international stature by pursuing memberships in both the BRICS forum and the Organization for Economic Co-operation and Development (OECD). This dual approach, he argues, could significantly improve Indonesia’s global bargaining position, as exemplified by the recent moves of other nations like Thailand and Turkey.

Analyzing Indonesia’s Current Geopolitical Landscape

As globalization continues to reshape the economic landscape, countries are increasingly inclined to align with international forums that best reflect their interests. During the BRICS Plus Summit held in Kazan, Russia, on October 23-24, 2024, Indonesia officially expressed its interest in joining BRICS, marking the beginning of a pivotal journey toward deeper integration within this influential coalition of emerging economies.

According to Wijayanto, "The best scenario is to join both like what Thailand and Turkey have attempted." His remarks emphasize that there is no formal prohibition preventing Indonesia from simultaneously becoming a member of both forums. This opens a pathway for Indonesia to consolidate its influence without severing ties with important entities like the European Union and the United States, which are integral to the OECD.

In this dynamic geopolitical framework, Indonesia stands to gain not only economically but also politically. Should it opt for both memberships, Indonesia could potentially access a wider range of partnership opportunities that encompass both emerging markets and developed economies.

BRICS and OECD: Opportunities for Indonesia

BRICS Membership: Expanding Economic Horizons
- With nations such as Brazil, Russia, India, China, and South Africa as members, BRICS represents a vital bloc of emerging economies. For Indonesia, joining BRICS could facilitate access to lucrative markets and investment opportunities.
- The organization also encourages economic cooperation on various fronts, including trade, technology transfer, and green economic initiatives—areas where Indonesia has much to offer and gain.
OECD Membership: Elevating Standards
- Conversely, membership in the OECD would provide Indonesia with a platform to adopt higher economic standards and improve governance while engaging with developed economies.
- This forum emphasizes best practices in various areas, such as education and environmental sustainability, which align with Indonesia’s ongoing development goals.

Despite these advantages, Wijayanto cautions that these opportunities come with crucial considerations. If forced to choose, he insists that the decision should prioritize Indonesia’s immediate economic needs and the forum that values Indonesia’s strategic position the most. "As an analogy, if we have two car options with differing qualities but we can tolerate those differences, then we would choose the car with less cumbersome purchasing requirements," he noted.

The Urgency of Decision-Making

While the prospect of membership in both BRICS and OECD is appealing, time is of the essence. Wijayanto stressed the importance of timely deliberation, warning against a prolonged indecision that could leave Indonesia “in a hanging position.” He commented, "The worst scenario is being left in a hanging position. Not becoming a part of either is a consequence of being indecisive."

As Indonesia navigates this critical juncture, its leadership will need to weigh the implications of joining these forums carefully. The decision will not only impact economic policies but could also influence democratic governance and sustainable development paths.

Future Prospects for Indonesia

The hopes for simultaneously joining BRICS and OECD illustrate Indonesia’s broader intention to stake a more definitive claim in global affairs. Membership in these organizations could bolster its economic growth and strengthen international ties, shedding light on Indonesia as a key player in the Asian and global economic landscape.

To further track Indonesia’s membership progress and explore the multifaceted benefits and challenges of joining BRICS, stay tuned to our dedicated articles.

In summary, Indonesia appears poised on the brink of a significant strategic advancement, as the decision to join influential international forums could redefine its place in the global economy. Readers are encouraged to share their insights or questions about this potential strategy in the comments section below.

For related insights into how international relationships shape economic strategies, check out our coverage on the benefits and challenges of Indonesia joining BRICS.