JAKARTADAILY.ID – The Ministry of Trade of Indonesia actively participated in the second Asia-Pacific Economic Cooperation (APEC) Committee on Trade and Investment (CTI) meeting held in Detroit, Michigan, United States of America on May 21-22, 2023.
This meeting served as a precursor to the APEC trade ministerial-level meeting, the Ministers Responsible for Trade (MRT), scheduled for May 25-26, 2023.
Led by the Director of Interregional Negotiations and International Organizations at the Directorate General of International Trade Negotiations, Reza Pahlevi Chairul, the Indonesian delegation, accompanied by Director of Services Trade Negotiations Basaria Tiara D Lumban Gaol, extended an invitation to APEC economies to provide robust support for the multilateral trading system amid the challenges faced by the global economy.
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"We support discussions aimed at restoring the effectiveness of the multilateral trading system and urge all APEC economies to capitalize on the positive momentum generated by the 12th World Trade Organization (WTO) Ministerial Conference (MC12) and actively engage in various discussions leading up to the 13th WTO Ministerial Conference (MC13)," stated Reza in his statement on Tuesday, May 23, 2023.
Reza emphasized that APEC economies must strengthen the fundamental principles of the WTO, with WTO reform being key to bolstering confidence in the multilateral trading system.
"Economic cooperation among countries, whether bilateral, regional, or multilateral, needs to revolve around the trade system in order to overcome challenges and provide long-term growth and development benefits for the Asia-Pacific region, taking into account the interests of each APEC member," Reza added.
In addition to discussions on the WTO, the meeting addressed progress in realizing the Free Trade Area of the Asia Pacific (FTAAP) and the capacity-building program aimed at achieving economic integration in the Asia-Pacific region. Reza highlighted the significance of the capacity-building program in enhancing knowledge and negotiation skills. The ultimate goal is for APEC economies to reap mutual benefits from the implementation of the FTAAP.
During the meeting, APEC economies also stressed the importance of facilitating trade in goods and services, promoting inter-regional connectivity, and fostering digitalization and innovation in the trade sector. In relation to services, Indonesia expressed its support for the APEC Non-Binding Guidelines on Services that Support the Clean-up of Marine Debris initiative, which aims to facilitate trade and investment and foster market development for marine debris cleaning services.
"We believe that through various initiatives focused on enhancing supply chain connectivity in the region, supported by digitalization and innovation efforts, we can effectively facilitate trade," stated Reza.
Reza further revealed that Indonesia has contributed to promoting regional economic integration through inclusive and sustainable trade by actively disseminating promotions to increase the utilization of the APEC Trade Repository (APEC-TR).
"To achieve inclusive and sustainable economic growth, Indonesia underscores the importance of cooperation, capacity-building programs, and APEC economic commitments. Knowledge sharing programs are vital to ensure that the benefits of the APEC forum are equally felt," concluded Reza.
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APEC is an economic cooperation forum consisting of 21 countries located around the Pacific Ocean rim. APEC's members include the United States, Australia, Brunei Darussalam, Chile, the Philippines, Hong Kong, Indonesia, Japan, Canada, South Korea, Malaysia, Mexico, Peru, Papua New Guinea, the People's Republic of China, Russia, New Zealand, Singapore, Taiwan, Thailand, and Vietnam.