Jakarta, Aug. 8 -- Indonesian Trade Minister Budi Santoso stressed the importance of a rules-based trading system to help strengthen micro, small and medium-sized enterprises (MSMEs) in developing countries.

Speaking at the BRICS Trade Ministers' Meeting in Jaipur, India, on Friday, Santoso said a predictable, fair and inclusive trading system was essential for MSMEs to expand beyond domestic markets, improve competitiveness and increase their participation in international trade.

"MSMEs are one of the main pillars of the economies of developing countries, including Indonesia. However, MSMEs continue to face various structural barriers. Limited access to financing remains one of the most fundamental challenges," he said.

To address the...