VIVAnews - Indonesia has been registered as a country which has a tendency towards protectionism according to the World Trade Organization.
"The Trade Minister Regulation No. 56 has been recorded by WTO but hasn't considered as a violation," said the chairperson of the Indonesian Chamber of Commerce (Kadin) MS Hidayat at his office in Jakarta on Monday, April 6. The Trade Minister Regulation states certain products import regulation.
Hidayat explained that almost all countries create protectionism. "Formally, the G20 meeting didn't agree on protectionism but if [we] observe almost all 20 countries have done actions lead to the [protectionism]," he said.
Indonesia must move toward the tendency but not to violate WTO's regulation. G20 almost made the same effort by wanting to secure domestic market.
Other than that, Hidayat asked to disburse a fund valuing US$1.1 trillion which was collected through the International Monetary Fund (IMF) for not using the old method.
"There has been an agreement in G20 for restructuring the IMF, ADB, and the World Bank because [the organizations] will become a fund distribution vehicle, but we don't want the IMF to use the old-troubled method," he said. Indonesia has yet decided whether to participate collecting the fund or not.
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Translated by: Ariyantri E. Tarman
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