Challenges and opportunities

On January 1, a new institution will be introduced: the World Trade Organization (WTO). This organization will complement existing institutions such as the World Bank, the International Monetary Fund and others whose presence is of great benefit to many countries.

The birth of the WTO is expected to consolidate the multilateral free trade system. Each and every country is expected to profit from the international trade of goods and services, free from protectionism and other obstacles.

In a world where economic blocks prevail, the Indonesian economy is being challenged. Therefore deregulation must continue. The existence of the WTO is expected to motivate our exporters into trying to increase their foreign exchange earnings. The opportunity is here now as the WTO will remove the constraints that are in the way of our exports.

-- Jawa Pos, Surabaya