Thailand and Indonesia chase OECD entry to join 'rich countries' club'

Thailand and Indonesia are embarking on ambitious journeys to join the OECD, an exclusive club of developed economies that sets global policy standards. This pursuit is driven by a desire to fundamentally reform their economic systems and signal a commitment to international best practices.

Thailand's bid gained momentum under former Prime Minister Srettha Thavisin, who leveraged his business background to promote economic revival. Although Srettha was later removed from office, the goal of OECD membership remains a top priority for the current administration led by Prime Minister Anutin Charnvirakul. The government has established a national steering committee to oversee the accession process, which officially launched in October 2023 after Thailand became a candidate country in June.

Anutin expressed optimism about the impact of membership, stating, "When Thailand becomes an OECD member, people will see Thailand in new dimensions. No one will be able to point a finger at Thailand and say it is a dishonest country, a country without scrutiny, an undeveloped country or a country moving backwards." Experts believe Thailand is using the OECD accession process as leverage to implement reforms that have historically faced slow progress.

Indonesia is also pursuing membership, with its roadmap receiving OECD approval in May 2024. It has incorporated OECD accession into its 2025-2029 National Medium-Term Development Plan, with observers suggesting a target completion date around the end of the decade for the required technical review. Both nations see joining the OECD as a pathway to attract investment, improve governance, and gain greater credibility on the global economic stage, especially amidst global uncertainty.

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When Thailand becomes an OECD member, people will see Thailand in new dimensions. No one will be able to point a finger at Thailand and say it is a dishonest country, a country without scrutiny, an undeveloped country or a country moving backwards.