Indonesia backs WTO efforts to ease global trade tensions

Indonesian Trade Minister Budi Santoso has affirmed Indonesia’s support for the World Trade Organisation (WTO) to ease trade tensions and discourage countries from taking unilateral maneuvers detrimental to the multilateral trade system.

In a press release, Santoso stated that at a bilateral meeting with WTO Director-General Ngozi Okonjo-Iweala on the sidelines of an APEC session in Jeju, South Korea on May 15, the Indonesian side reaffirmed its support for the WTO as a rule-based multilateral trade regime to maintain its credibility and strengthen its role in resolving trade issues, easing trade tensions, and averting acts that could harm the multilateral trade system.

Santoso conveyed Indonesia's concerns about the resurgence of protectionist practices at present during the meeting.

The minister stressed that Indonesia finds it crucial to assist the WTO in implementing reforms, emphasizing its special and differential treatment principle dedicated to helping developing countries.

He expressed his belief that a reform at the WTO will help the organization strengthen its relevance and effectiveness in dealing with current and future global challenges.

Meanwhile, Okonjo-Iweala lauded member states of the Association of Southeast Asian Nations (ASEAN), including Indonesia, for their constructive and peaceful reactions to ongoing unfavorable global trade trends.

She emphasized the importance of countries refraining from retaliatory measures and placing dialogue as the first resort to resolve international trade disputes.

She urged Indonesia and other ASEAN member countries to back the WTO's transformation initiative, intended to strengthen its effectiveness and relevance.