Wahyu Dwi Anggoro
IDXChannel - Developing countries need to enhance cooperation as geopolitical competition and economic fragmentation continue to rise in the past few years.
This was conveyed by the Indonesian Vice Foreign Minister, Pahala Nugraha Mansury, at the High-Level Conference Commemorating the 60th Anniversary of the United Nations Conference on Trade and Development (UNCTAD) held in Bandung on 14 May.
The event, which was also attended by Ambassadors of friendly countries, international organizations, Ministries/Institutions, universities and the general public, aimed to discuss the role of UNCTAD and identify cooperation opportunities that can be utilized by Indonesia.
In his keynote speech, Vice Minister Pahala conveyed five main points that need to be considered in formulating a long-term global development agenda.
First, the need to strengthen economic integration and cooperation. He said that the number of trade barriers has increased almost 3 times since 2019. The increase could result in a 7% reduction in global GDP in the long run.
