Indonesia calls for justice, transparency in global trade

04 December, 2013 | Source: Antara News

Indonesia has called for the principles of justice and transparency to be implemented in global trade negotiations to ensure that all parties benefit from any agreement.



 

"A multilateral trading system will work only if it incorporates the principles of transparency, justice and opportunity," Indonesian President Susilo Bambang Yudhoyono said at the opening of the World Trade Organization (WTO) Ministerial Conference here on Tuesday.

He said the liberalization of global trade would benefit all nations.

"Increased multilateral trade could open new opportunities for economic growth. It could create jobs and increase the incomes of workers, as well as benefit consumers, who can purchase more goods at cheaper prices," he noted.

However, President Yudhoyono reminded delegates to pay attention to weak countries that require support to increase their economic capabilities.

"Helping the weak become strong will benefit all parties and broaden markets. It will improve supply and demand for goods and services and contribute to regional as well as global stability," he said.

The president invited all the participants to contribute their thoughts and further the negotiations.

"It is time to put words to action. We need regulations based on a multilateral trading system that can be adopted by developing and developed countries. Success in Bali will prove that we did not leave the developing countries behind," he added.(*)

 

The Indonesian government plans to issue savings sukuk (Islamic bonds), series ST007, to expand the base of retail investors in the domestic financial market and finance green projects in the state budget (APBN).
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