World Economy

WTO Lauds Indonesia Reforms

WTO Lauds Indonesia ReformsWTO Lauds Indonesia Reforms

Trade Minister Thomas Lembong said that the World Trade Organization applauded President Joko “Jokowi” Widodo’s effort in reforming the economy. Thomas conveyed the statement after participating in a meeting between WTO Director General Roberto Azevdeo and Jokowi.

“Azevedo delivered his appreciation to the president in relation to the economic reform agenda. We can say that many countries in the world are watching Indonesia,” Thomas said on Wednesday, NewsNow reported.

Thomas said that during the meeting, Jokowi had explained  the deregulation program and the 11 economic policy packages.

Azevdeo also discussed the latest development on the international trade system, he said.

Thomas said that the WTO expects Indonesia to maintain a constructive role in the organization. He added that according to Roberto, Indonesia has a special position in the organization.

After the meeting, Azevdeo told reporters that he also discussed issues related to electronic trade; micro, small and medium enterprises; and investment.

“I am also happy to visit a country that implements policies needed by the world. Policies that are focusing on competitiveness,” he said.

Widodo has stepped up government spending on development programs since early 2016. A number of infrastructure projects are currently underway. Tender processes, such as for the construction of a 70-km toll road, started at the end of last year. The directorate general of spatial planning and development is currently constructing land infrastructure in five cities.

The government’s efforts to boost infrastructure projects were applauded by the international community. The Asian Development Bank, for instance, announced that Asian growth will be led by Indonesia as it ramps up investment in infrastructure. That is why the Asian financial institution has predicted that Indonesia’s economy could grow more than 5% this year. Its two major drivers are government investment and household consumption.