The World Trade Organization (WTO) has been at the forefront of international trade discussions in recent times, with various countries calling for its reform to address emerging global challenges. Indonesia's Minister of Trade, Budi Santoso, has reaffirmed his country's commitment to the WTO as a rule-based multilateral trade regime, highlighting its importance in promoting fair competition and providing special and differential treatment to developing nations.
The Association of Southeast Asian Nations (ASEAN) has also been pushing for reforms to strengthen the organization's relevance in addressing global challenges. ASEAN Secretary-General Dato Lim Jock Hoi emphasized the need for a more inclusive and transparent dispute resolution mechanism, which would enable member countries to resolve trade disputes more effectively.
Indonesia is urging APEC member economies to support its initiative to overhaul the WTO's dispute resolution mechanism, which would help revitalize the two-tiered dispute resolution mechanism and promote more effective trade cooperation among nations. This effort is crucial in promoting fair competition and protecting the interests of developing countries.