The objective of the New Approaches to Economic Challenges (NAEC) initiative is to learn lessons from the economic and financial crisis. NAEC aims to emphasise the complexity and interconnectedness of the global economy, where some policy challenges are supranational and national policies have spill-over effects. An important dimension of NAEC involves policy dialogues and knowledge sharing with policy makers from Key Partner countries on current economic, social and environmental challenges and how these can be better tackled. The aim of such activities is to supplement OECD’s policy

approaches with insights and perspectives from the Key Partners, as well as learn about their policy initiatives and collectively reconsider the right analytical approaches and ultimately policy recommendations to support stronger, more resilience, inclusive and sustainable growth. KSA supported a series of NAEC policy dialogues to provide opportunities for Key Partner countries to contribute to the discussions that orient OECD work and its analytical approaches.

 

A policy dialogue with India was held in New Delhi on 24 February 2015, hosted by the National Institute of Public Finance and Policy. The dialogue spanned over a wide set of topics, including a discussion on the global and Indian challenges and changes ahead. Some future opportunities for collaboration using micro-data and as well as joint work on SMEs were discussed. A fruitful exchange on the cost of environmental degradation and India’s priorities in this area helped refine OECD’s research efforts on the topic.

 

A second NAEC policy dialogue with Key Partner, this time with Brazil, was held in Brasilia on 2 March 2015. The event, which was hosted and chaired by the Brazilian Finance Minister, revealed that such key NAEC topics as long-term investment, productivity, inclusiveness, environmental preservation and climate change were all important and relevant for Brazil’s desired policies. The OECD’s active role in the G20 process was also positively acknowledged by the Finance Minister.

 

A third NAEC policy dialogue was held in Pretoria, South Africa on 16 July 2015, co-hosted by the National Treasury and the South African Institute of International Affairs (SAIIA), with a particular focus on the theme of inequality and inclusive growth. Topics, such as strategic challenges ahead, tax, education, and labour market, were all discussed from the viewpoint of their impact on inequality and inclusive growth.

 

A fourth NAEC policy dialogue for 2015 was held in Bandung, Indonesia, on 15 September 2015, co-hosted by the Co-ordinating Ministry of Economic Affiars and the Ministry of Finance. Senior officials and academics from Indonesia shared their views on productivity, finance and the challenges to foster new sources of growth. In particular, regional disparities in economic performance, infrastructure quality and income were a prominent theme. Therefore NAEC work related to inclusivity was well-placed to enlighten the discussion.

 

NAEC policy discussions have thus far focused at the national and international level. However these exchanges with partner countries have also revealed the need to pay more attention to the regional and local level. City and regional governments can be quite experimental and innovative in their policy approaches. NAEC plans to pursue this issue further in its work on National Experiences.

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For further information please consult http://www.oecd.org/naec/partners.htm