TEMPO.CO, Jakarta – Switzerland has committed €3 million (US$3.4 million) to support Indonesia's bid to become a full member of the Organisation for Economic Co-operation and Development (OECD), Coordinating Minister for Economic Affairs Airlangga Hartarto said on Friday.
The funding commitment was discussed during Airlangga's meeting with Swiss Confederation President Guy Parmelin on the sidelines of the OECD Ministerial Council Meeting in Paris.
According to Airlangga, the Swiss assistance will be delivered through a cooperation program running from 2025 to 2028, focusing on three key areas: improving the governance of Indonesia's state-owned enterprises (SOEs), strengthening the implementation of Responsible Business Conduct (RBC) standards, and supporting Indonesia's accession to the OECD Anti-Bribery Convention.
Indonesia formally began its OECD accession process in 2024 and is currently reviewing 240 OECD legal instruments across 32 policy chapters. The review involves more than 60 government ministries and agencies as Jakarta seeks to align its regulations and institutions with OECD standards.
Beyond OECD membership, Indonesia and Switzerland also explored ways to deepen economic cooperation. One initiative under discussion is a non-binding memorandum of understanding on minerals and metals, which is expected to be signed on June 23.
The agreement is aimed at expanding bilateral cooperation in critical mineral supply chains, a sector that has become increasingly important in the global energy transition.
Airlangga also highlighted Indonesia's ongoing reform of state-owned enterprises, saying the government has reduced the number of SOEs through restructuring and asset divestments.
He pointed to the role of Danantara, Indonesia's sovereign wealth fund, which is currently issuing international bonds to attract foreign investment.
"Indonesia will work with Switzerland to adopt global best practices in corporate governance by leveraging Swiss expertise in mature financial markets," Airlangga said.
The two countries also discussed energy and food security amid rising geopolitical tensions in the Middle East.
Indonesia said it has diversified its energy imports, with Saudi Arabia now accounting for only about 20 percent of its oil supply. The remainder comes from countries including Nigeria, Angola, Gabon, and the United States.
On food security, Airlangga said Indonesia has achieved self-sufficiency in several key commodities to help maintain long-term price stability and has begun exporting fertilizer to neighboring countries, including Australia.
Swiss officials shared their own strategy for maintaining strategic reserves, including oil stockpiles sufficient for four to four-and-a-half months of domestic demand and robust national fertilizer reserves.
To support future energy development, Indonesia's Energy and Mineral Resources Ministry and Switzerland's State Secretariat for Economic Affairs (SECO) are expanding cooperation on smart-grid technology and battery storage systems to help maximize Indonesia's solar power potential.
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