Minister of Trade Zulkifli Hasan reaffirmed Indonesia's commitment to supporting the World Trade Organization (WTO) and promoting inclusivity in the Asia-Pacific region. Indonesia aims to strengthen trade, investment, and economic cooperation to enhance the well-being of Asia-Pacific communities. Minister Zulkifli Hasan will lead Indonesia's delegation at the 30th Asia-Pacific Economic Cooperation (APEC) Ministerial Meeting in Arequipa, Peru, from May 16-18, 2024. This year's theme, "Empower Include Grow," aligns with Indonesia's objectives. Accompanying him is Director General of International Trade Negotiations Djatmiko Bris Witjaksono. Indonesia attends to reaffirm support for the WTO and engage in discussions on the Free Trade Area-Asia Pacific (FTAAP) plan. Efforts to facilitate trade and promote inclusivity in the Asia-Pacific region will also be emphasized. Besides APEC meetings, Minister Zulkifli Hasan plans to meet with several trade partner ministers, including those from New Zealand, South Korea, Canada, and Japan.
APEC, comprising 21 economies around the Pacific Ocean, focuses on trade, investment, and economic cooperation to drive growth and welfare in the Asia-Pacific region. Discussions in APEC aim to facilitate liberal, inclusive, and sustainable trade. Decisions made are voluntary and non-binding, often with political implications. APEC economies, covering 48% of global trade worth USD 28 trillion, also account for 62% of the world's GDP totaling USD 59 trillion, with a population of 2.96 billion. For Indonesia, APEC is vital for strengthening its economic position globally. In 2023, Indonesia's total trade with APEC economies reached USD 358.62 billion, resulting in a trade surplus of USD 18.63 billion. Indonesia's main exports to APEC economies include mineral fuels, animal and vegetable oils, iron and steel, electronic machinery, and vehicles. Imports consist of mechanical machinery, electronic machinery, iron and steel, plastics, vehicles, and their parts.
Source: https://www.niaga.asia/indonesia-mendukung-inklusivitas-perdagangan-asia-pasifik/
