Indonesia has expressed strong support for a recent World Trade Organization (WTO) panel ruling in its favor concerning a trade dispute with the European Union (EU) over countervailing and anti-dumping duties imposed on Indonesian stainless steel exports.

Trade Minister Budi Santoso described the decision as a significant victory for Indonesia's trade diplomacy efforts, affirming the country's right to fair market access to the EU.

Budi also stated that safeguarding the country's stainless steel exports to the EU and beyond is an important achievement. They will also urge the EU to respect the WTO's decision and cancel the unfair countervailing duties.

Currently, the EU's anti-dumping duties on Indonesian stainless steel range from 9.3% to 20.2%, with countervailing duties of up to 21.4%. Indonesia filed a complaint with the WTO in February 2023. Following the ruling, the WTO recommended that the EU adjust its trade measures by canceling the countervailing duties on Indonesian stainless steel.