VOINews, Jakarta - Indonesia has invited the members of the Asia-Pacific Economic Cooperation (APEC) to fully support multilateral trade systems to address global economic challenges.

The invitation was conveyed by Director of Interregional Negotiations and International Organizations at the Trade Ministry Reza Pahlevi Chairul during the second meeting of the Committee on Trade and Investment (CTI) in Detroit, the United States, on May 21–22, 2023.

"We support discussions on the attempts to revive the effectiveness of the multilateral trading system,” he said, according to a press release received on Tuesday.

Indonesia has also encouraged all APEC members to take advantage of the positive momentum from the 12th World Trade Organization (WTO) Ministerial Conference and actively contribute to various discussions ahead of the 13th WTO Ministerial Conference, he added.

He emphasized that APEC members must strengthen the basic principles and reforms of the WTO to bolster the implementation of multilateral trading systems.

The attempt aims to overcome challenges and provide benefits for the long-term growth and development of the Asia-Pacific region according to the interests of APEC members.

Apart from the WTO issue, the meeting also emphasized the importance of supporting the trade in goods and services, improving interregional connectivity, as well as encouraging digitalization and innovation in the trade sector.

Furthermore, it also discussed developments in realizing the Free Trade Area of the Asia-Pacific (FTAAP), including the implementation of a capacity-building program to achieve economic integration in the region.

The Indonesian Trade Ministry official said that the capacity-building program is important to increase knowledge and understanding on negotiation skills so that APEC members can gain mutual benefits from implementing FTAAP in the future.

He further stated that Indonesia has contributed to increasing regional economic integration through inclusive and sustainable trade as well as the dissemination of information to increase the utilization of the APEC Trade Repository (APEC-TR).

In realizing inclusive and sustainable economic growth, Indonesia has stressed the importance of cooperation and knowledge sharing.

"The knowledge-sharing program is important to ensure that the benefits of the APEC forum can be obtained equally (by all members)," Chairul explained.

The second meeting of CTI was held ahead of the APEC Ministers Responsible for Trade Meeting on May 25–26 in Detroit.  (Antaranews)