Badung, September 22, 2022
– The G20 meeting of the Trade, Investment and Industry Working Group (TIIWG) at ministerial level succeeded in reaching a joint agreement on the framework of 6 priority issues to address global trade challenges. This collective agreement was held in Nusa Dua Bali on September 19 and 20, 2022 and was the culmination of the meeting after previous meetings held in March and July 2022.
The Director General of International Trade Negotiations at the Ministry of Commerce, Djatmiko Bris Witjaksono, as chairman of the TIIWG, hopes that the concept of formulating the collective agreement can be a concrete outcome of the G20 ministers.
“The Ministry of Commerce, Ministry of Investment/BKPM and Ministry of Industry formulated the concept of agreement documents as a concrete outcome during the ministerial-level meeting on September 23, 2022,” Djatmiko told Nusa Dua, Badung, Bali. (22/9).
Djatmiko stressed that the resulting agreement would later serve as a guide for G20 members to deal with the impact of the Covid-19 pandemic and promote a strong, inclusive and sustainable global economic recovery.
“The TIIWG working group collaborates towards the achievement of the Sustainable Development Goals (SDGs) that correspond to priority issues, in particular those relating to the reduction of poverty, hunger, good health and well-being”, explained Djatmiko.
There are six priority issues in the trade, investment and industry sectors that are promoted in the formulation of the joint statement at the ministerial level. The six issues are reforms of the World Trade Organization (WTO); the role of the multilateral trading system in strengthening the SDGs; trade, investment and industry responses to the pandemic and the global health architecture; digital trade and global value chains; strengthen sustainable investment for global economic recovery; and inclusive and sustainable industrialization through Industry 4.0.
“As a form of support for the priority program of the G20 TIIWG Presidency, G20 countries have made positive contributions in various discussions to strengthen the multilateral trading system, reform the WTO and encourage digital trade that can fill various gaps and encourage digital literacy,” said Djatmiko.
Djatmiko also said that the geopolitical conditions now emerging pose a challenge in themselves to efforts to build consensus among G20 countries. Therefore, the G20 must continue to emphasize its relevance as the relevant multilateral economic forum to respond to today’s global challenges.
“The Indonesian G20 Presidency plays a role in encouraging the achievement of common goals to overcome the challenges of a stronger global economy now and in the future,” he said.
Djatmiko also pointed out that in the working group for trade, investment and industry sectors, Indonesia has made maximum efforts to encourage mutual agreement in this statement. The spirit of cooperation between the members of the G20 is the key to the success of this meeting to reach a mutual agreement.