Trade Minister Zulhas Invites APEC Trade Minister To Strengthen Multilateral Trade Through WTO

JAKARTA - The Minister of Trade of the Republic of Indonesia (RI) Zulkifli Hasan invited the Minister of Trade of Asia Pacific Economic Cooperation (APEC) to reaffirm its commitment to strengthening multilateral trading systems through the World Trade Organization (WTO).

"APEC plays an important role as an incubator for ideas. For this reason, APEC must continue to innovate and provide a clear agenda of thinking on the multilateral trading system, to reduce poverty and income inequality and create inclusive growth," said Zulkifli Hasan in his statement in Jakarta, quoted from Antara, Saturday, May 27.

Zulkifli Hasan also emphasized that collaboration is key, so that the active participation of the APEC Trade Minister and policymakers can provide solutions to the various current economic challenges, including in strengthening the multilateral trading system.

"At the last Ministerial Conference, we saw that the WTO was able to produce agreements and take responsibility for the pandemic situation. For this reason, Indonesia hopes that APEC Trade Ministers can maintain this momentum and encourage the 13th WTO KTM in 2024 to be able to provide significant results," he said.

Zulkifli Hasan said the WTO is facing challenges to reform, both in increasing its main functions, as well as pressure to overcome inequality.

To strengthen the WTO, it is necessary to affirm the basic principles of the WTO, in particular improvements to the provisions of special and different treatment for developing and underdeveloped countries.

"We as APEC's Minister of Trade must also agree to formulate a solution to dispute resolution problems and resolve the crisis in the Banding Agency," said Zulkifli Hasan.

Furthermore, in order to make the 13th WTO Ministerial Conference (KTM) a success, he also invited the APEC Minister of Trade to provide a political impetus to continue substantive and balanced negotiations, in discussing agricultural issues (public stockholding and special safeguard mechanism), fisheries subsidies, services, and new issues such as e-commerce, investment facilities, and micro, small and medium enterprises (MSMEs).

The APEC MRT series of meetings took place on May 25, 2023 in Detroit, Michigan, United States, and was attended by United States Trade Representative Ambassador total Tai who is also the Chair of APEC MRT, WTO Director General Ngozi Okonjo-Iweala, APEC Trade Minister, APEC-Business Advisory Council (ABAC), Association of Southeast Asian Nations (ASEAN), Pacific Economic Cooperation Council (PECC), and Pacific Islands Forum (PIF).

APEC is a 21-economic cooperation forum in the Pacific Ocean circle. APEC's main activities include trade cooperation, investment, and other economic cooperation to encourage growth and improve welfare in the Asia Pacific Region.