Minister of Trade Budi Santoso emphasized Indonesia's commitment to supporting comprehensive reform of the World Trade Organization ( WTO ) in the second session of the APEC Trade Ministers' Meeting (APEC MRT) in Jeju, South Korea.
Budi said one of the things that will be pushed in this reform is the restoration of the two-tier dispute resolution system and the reappointment of members of the WTO Appellate Body.
"We support APEC's role in strengthening the multilateral trading system with a focus on WTO reform, including the restoration of the two-tier dispute settlement mechanism and the reappointment of Appellate Body members to ensure a fair and reliable system," Budi said in a statement in Jakarta, Friday.
The Minister of Trade expressed his concern over the increase in reciprocal tariff practices that are detrimental to the Indonesian economy.
According to him, this practice disrupts trade in Indonesia which emphasizes fair global market access.
However, the Indonesian government did not take retaliation in facing global trade challenges.
The Indonesian government chose to prioritize diplomacy and focus on achieving mutually beneficial solutions.
"We believe a retaliatory approach will only worsen global economic uncertainty and instability. Indonesia will continue to prioritize diplomacy and constructive engagement to achieve a mutually beneficial solution," he said.
The Minister of Trade also underlined the importance of collective progress in resolving substantial WTO issues, including agricultural and fisheries subsidies.
According to him, the negotiation process must be carried out with the principles of transparency and inclusiveness, and in accordance with the mandate agreed at the 11th Ministerial Conference (MC11) and the UN Sustainable Development Goals, especially SDG 14.6.
