G20 TIIWG Meeting Achieves Formulation of Joint Agreement on 6 Priority Issues to Overcome Global Trade Challenges

Badung, 22 September 2022

– The G20 Meeting of the Trade, Investment and Industry Working Group (TIIWG) at the 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 19-20 September 2022 and was the culmination of the meeting after previously held meetings in March and July 2022.

The Director General of International Trade Negotiations at the Ministry of Trade, Djatmiko Bris Witjaksono, as Chair of the TIIWG, hopes that the formulation concept of the collective agreement can be a concrete result of the G20 Ministers.

“The Ministry of Trade together with the Ministry of Investment / BKPM and the Ministry of Industry have formulated the concept of agreement documents as a concrete result at the Ministerial level meeting on September 23, 2022,” said Djatmiko in Nusa Dua, Badung, Bali (22/9).

Djatmiko emphasized that the resulting agreement would later serve as a guide for the G20 members in dealing with the impact of the Covid-19 pandemic and promoting a strong, inclusive and sustainable global economic recovery.

“The TIIWG working group collaborates in achieving the Sustainable Development Targets (SDGs) that are in line with priority issues, particularly those regarding poverty alleviation, hunger, good health, and welfare,” explained Djatmiko.

There are six priority issues in the trade, investment and industry sectors that are encouraged in the formulation of the Ministerial level joint statement. The six issues are World Trade Organization (WTO) reforms; the role of the multilateral trading system to strengthen the SDGs; trade, investment, and industry responses in dealing with the pandemic and the global health architecture; digital trade and global value chains; strengthening sustainable investment for global economic recovery; and inclusive and sustainable industrialization through Industry 4.0.

“As a form of support for the priority agenda of the G20 TIIWG Presidency, the G20 countries made positive contributions in various discussions to strengthen the multilateral trading system, reform the WTO, and encourage digital trade that can overcome various gaps, and encourage digital literacy,” said Djatmiko.

Djatmiko also stated that the geopolitical conditions that are currently emerging is a challenge in and of itself to efforts to reach consensus among the G20 countries. Therefore, the G20 needs to continue to emphasize its relevance as a relevant multilateral economic forum in responding to today’s world challenges.

“Indonesia’s 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 emphasized that in the working group for the trade, investment and industry sectors, Indonesia had made maximum efforts to encourage a mutual agreement in this statement. The spirit of cooperation among G20 members is the key to the success of this meeting in reaching a mutual agreement.

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