Sign in to comment!

Menu
Home

World

Indonesian foreign minister seeking to see $1 trillion global trade bonus in Bali this year

  • 71c4621a26e1b803270f6a706700f719.jpg

    United States Trade Representative, Ron Kirk, gestures as he speaks during an interview with The Associated Press at the World Economic Forum, WEF, in Davos, Switzerland, Saturday, Jan. 26, 2013. (AP Photo/Michel Euler) (The Associated Press)

  • e7da376926e0b803270f6a7067006bd3.jpg

    United States Trade Representative, Ron Kirk, gestures as he speaks during an interview with The Associated Press at the World Economic Forum, WEF, in Davos, Switzerland, Saturday, Jan. 26, 2013. (AP Photo/Michel Euler) (The Associated Press)

  • 7e0908e926e3b803270f6a7067002425.jpg

    Participants leave the Congress Center the last day of the 43rd Annual Meeting of the World Economic Forum, WEF, in Davos, Switzerland, Saturday, Jan. 26, 2013. (AP Photo/Keystone/Laurent Gillieron) (The Associated Press)

Indonesia may hold the key to a $1 trillion injection into the global economy.

That's how much the World Trade Organization believes is riding on talks later this year in Bali, when trade ministers hope to cut through some of the red tape that slows global commerce.

Indonesia's Foreign Minister Marty Natalegawa told The Associated Press that failure is not an option and that a strong effort is being put in to ensure that the WTO meeting in Bali is "crowned with success."

Trade ministers agreed Saturday at the World Economic Forum in Davos that some of the key elements of a global trade deal can be fleshed out by summer, in preparation for ministerial talks in December.

The current trade talks, known as the Doha Round, began in 2001,