Ministers from OECD countries and Southeast Asia have welcomed Canada and the Philippines as new co-chairs of the OECD Southeast Asia Regional Programme (SEARP).
For more than a decade, the Programme has served as an important platform for connecting the OECD and Southeast Asia-one of the key drivers of global growth, with a combined GDP of more than USD three trillion- to promote national reforms and regional integration. Since the Programme's launch in 2014, Southeast Asian countries have more than doubled their adherence to OECD instruments and their participation in OECD bodies. To date, ASEAN member countries have completed 67 legal adherences to OECD instruments.
"The economic dynamism of Southeast Asia makes the region a centre for global growth and supply chains, " OECD Secretary-General Mathias Cormann said at the OECD Ministerial Council Meeting. "We are building on the OECD Strategic Framework for the Indo-Pacific and its Implementation Plan to continue to deepen our engagement. OECD accession discussions for Indonesia and Thailand, the two largest economies in the region, will support their efforts to become advanced economies in the next two decades. Our work with the Association of Southeast Asian Nations (ASEAN) on regional economic co-operation and integration, and tailored support for countries on aligning with OECD standards and best practices, aim to help the region unlock its full potential."
Australia and Viet Nam had co-chaired the Programme since 2022, when the region was still recovering from the COVID-19 pandemic, with a focus on supporting economic recovery and reform agendas. Under their leadership, the Programme helped governments align with international standards and share good practices on boosting investment, enhancing connectivity and tackling tax avoidance.
The OECD's relationship with Southeast Asia entered a new phase with the launch of accession discussions for Thailand and Indonesia in 2024. This process, which includes in-depth reviews, technical dialogue, and engagement on a wide range of policy issues, will help catalyse domestic reforms, strengthen investor confidence, improve well-being, and support both countries' ambitions to achieve high-income status. Their eventual accession would also enrich the OECD and its Members by bringing new national and regional perspectives to global policy discussions.
Viet Nam, outgoing co-chair of the SEARP, hosted two Ministerial level conferences of the Programme in Hanoi on supply chain resilience and quality investment, in addition to signing a Memorandum of Understanding (MoU) and an action plan with the OECD, focusing on competition, investment, the green transition and tax policy. Earlier this year, new co-chair the Philippines also signed a MoU with the OECD, along with an action plan to strengthen co-operation on macroeconomic policy, sustainable infrastructure, competition and corporate governance among others. The Philippines and Singapore have also joined the Inclusive Forum on Carbon Mitigation Approaches (IFCMA), the OECD's flagship initiative designed to enhance the global impact of emissions reduction effort.
