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Indonesia backs fairer global trade rules at BRICS meeting

Jakarta (ANTARA) – Indonesia pledged to work with BRICS members to strengthen fair, transparent trade rules, while urging reforms that keep the World Trade Organization central to global commerce and better support developing economies worldwide.Speaking at Friday’s closing session in Jaipur, Trade Minister Budi Santoso said Indonesia supports a more inclusive, open, transparent and equitable multilateral trading system that can respond to shifts in global trade.Santoso said achieving that goal requires a WTO that remains “strong, inclusive, and adaptive to global challenges,” according to a statement received in Jakarta on Sunday.“At the same time, it is vital that BRICS countries continue pursuing concrete cooperation that directly impacts the economic growth of developing nations,” he said.Santoso also pledged Indonesia’s support for BRICS initiatives to expand financing for micro, small and medium enterprises, strengthen supply chains and accelerate digital transformation, particularly in developing economies.“This approach is important to stimulate more inclusive and sustainable economic growth,” Santoso said, adding that cooperation should deliver tangible benefits.He made the remarks alongside counterparts from Brazil, Russia, India, China, South Africa, Egypt, Ethiopia, Iran, Saudi Arabia and the United Arab Emirates, discussing four priorities for trade cooperation.The first was strengthening multilateral trade, keeping the WTO at the system’s core while advancing development priorities, special treatment for developing economies and a two-tier dispute settlement system.The second focused on helping MSMEs expand globally through more accessible financing, including a proposed BRICS invoice-discounting mechanism designed to improve access to working capital and support international sales.The third covered a work plan on BRICS’ shared understanding of global value chains, including document digitalization, stronger connectivity, special economic zones and industrial capacity building measures.The fourth agenda addressed BRICS principles for digitally delivered cross-border services, seeking deeper trade ties while expanding digital skills and strengthening developing economies through greater participation in digital commerce.Indonesia’s position reflects its broader effort to use BRICS cooperation to support developing economies while preserving an open, rules-based trading system centered on the WTO and promoting practical trade facilitation across borders and shared prosperity.