Equalizing economic recovery efforts due to the pandemic and the multilateral collective step is Indonesia's priorityJakarta (ANTARA) - Indonesia is ready to continue the Asia-Pacific Economic Cooperation's (APEC's) collective step to return the world's trust in the multilateral negotiation system.
Specifically, this will be done during the upcoming World Trade Organization's (WTO's) 12th Ministerial Conference (MC12) in June 2022.
The government's focus for the meeting encompasses the efforts to expedite and equalize post-pandemic recovery, APEC and International Organization Negotiation Director at the Trade Ministry Reza Pahlevi noted through a statement on Tuesday.
This must be conducted through a balanced approach that takes into account social, economic, and environmental aspects, he explained during the second meeting of APEC's Committee on Trade and Investment (CTI) held on May 15-16 in Bangkok, Thailand.
The global trade system is pressured to provide concrete solutions to handle the world's economic problems due to disruption from the COVID-19 pandemic and other challenges, he opined.
"Equalizing economic recovery efforts due to the pandemic and the multilateral collective step is Indonesia's priority," Pahlevi added.
APEC members also discussed efforts to implement APEC's vision to realize an open, dynamic, resilient, safe, and prosperous region, he affirmed.
One of the efforts is through once again discussing the realization of a Free Trade Area of the Asia Pacific (FTAAP) with the post-COVID-19 pandemic perspective.
Indonesia lauded this strategic step and encouraged a consensus on issues being discussed based on further study, emphasizing flexibility and ensuring the interest of developed and developing economies in an even-handed manner.
"The FTAAP discussion, in the future, must be conducted even-handedly and provide benefits, specifically by prioritizing consensus amid differences of viewpoints and capacities between economies," he stated.
As the host of the 2022 G20, Indonesia had the opportunity to lay out the result of the first meeting of the G20 Trade, Investment And Industry Working Group (TIIWG) held on March 30-31.
"It is expected that this G20 forum discussion can proceed along with the Asia Pacific economy's agenda and achievement for pandemic recovery and global trade challenge resolution," Pahlevi remarked.
The regional economic cooperation scheme plays an important role in encouraging the success of multilateral agreement for a trade system that is relevant to the development of a global economic situation, he added.
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Translator: Sella P G, Fadhli Ruhman
Editor: Sri Haryati
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