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G20 nations demand WTO reforms for fairer global trade
Indonesia, as the current president of G20, repeatedly berated the WTO for its inability to bring justice for developing countries in the international trade system, especially in the case of Jakarta's trade disputes with the European Union.
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A police officer patrols ahead of the Group of 20 Foreign Ministers’ Meeting in Nusa Dua, Bali, on July 7.
(AFP/Dita Alangkara)
Amid ongoing disruptions to the global supply chain and skyrocketing commodity prices, member states of the Group of 20 approved plans by the current presidency to reform the World Trade Organization.
Delegates in the Second Trade, Investment and Industry Working Group (TIIWG) Meeting are in consensus that a framework should be formulated to address the current negotiation, monitoring and dispute resolution mechanism in the international trade body.
Trade Ministry international trade cooperation director general Djatmiko Bris Witjaksono, who also chairs the TIIWG, said these reforms would create an equitable international trade system, particularly for developing countries.
"We get a windfall from the success of the WTO meeting in June. At least the G20, as one of the processes [in negotiations], has an important position that can influence discussions in other forums," Djatmiko told reporters on the sidelines of the meeting.
Read also: Where next for WTO after breaking the logjam?
Indonesia, as the current president of the G20, repeatedly berated the WTO for its inability to bring justice for developing countries in the international trade system, especially in the case of Jakarta's trade disputes with the European Union.
After the union imposed trade restrictions on Indonesian palm oil, a major export commodity for the archipelagic country, the latter imposed a nickel ore export ban two years ago.
