Indonesia advises against overdependence on developed nations' markets

Indonesia advises against overdependence on developed nations' markets

Vice Foreign Minister Mahendra Siregar addressed the International Workshop on Crops for Peace (IWCP) 2019 held in Jakarta on Tuesday. (ANTARA/Yuni Arisandy/tm)

I would like to remind all of us that the current trend will become prominent in future. Our plant products, our economy, and our prosperity should not highly depend on developed nations' markets.
Jakarta (ANTARA) - Indonesia has encouraged fellow developing nations to not be increasingly dependent on developed countries' markets, so that the economy and trade of developing countries will not merely be determined by developed nations.

"I would like to remind us all that the current trend will become prominent in future. Our plant products, our economy, and our prosperity should not highly depend on developed nations' markets," Vice Foreign Minister Mahendra Siregar stated at the International Workshop on Crops for Peace (IWCP) 2019 held in Jakarta on Tuesday.

He affirmed that the time had come for developing countries to determine the global trade and economic trend on their own since most countries in the world are developing nations.

"I do not need to remind all of us that the majority of 10 to 20 countries, with the largest economies, are currently developing countries," he pointed out.

"However, our trade, our development, our global value chain, and our mindset still follow the out-of-date pattern formed before World War wherein developing countries only produced goods for consumption by developed nations," he remarked.

Siregar encouraged all developing countries, on their part, to amend and revise the old pattern.

He further encouraged all developing nations to take a lesson from the trade war and global economic slowdown.

"This indicates that -- unless developing countries diversify our trade trend to domestic and regional markets as well as to fellow developing nations -- you are always going to be vulnerable to the risk of being unable to adopt concrete sustainable development," he added.
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