Coordinating Minister for Economic Affairs, Airlangga Hartarto, has stressed that G20 countries must demonstrate their commitment to maintaining global economic stability.
"During the 2008 global financial crisis, it was the G20 that prevented the global economy from further falling into depression," Hartarto said at the Indonesian Pavilion at the 2022 World Economic Forum Annual Meeting (WEFAM) in Davos, Switzerland, on Monday (May 23).
The G20 countries make up two-thirds of the global population, 85 percent of the global GDP (gross domestic product), 75 percent of international trade, and 80 percent of global investment.
"Decisions (taken) at the G20 forum will improve many things in this world," the minister said.
He also recounted global experiences in dealing with the COVID-19 pandemic over the past two years, specifically the difficult circumstances faced last year by all countries due to the outbreak.
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Indonesia has shown its durability and has begun to make progress in recovery, Hartarto opined. According to the Central Bureau of Statistics, Indonesia’s economy grew 5.01 percent in the first quarter of 2022.
Speaking at the meeting, the minister also brought attention to global issues, particularly geopolitical issues which are posing a challenge for Indonesia’s G20 Presidency.
The global community must not ignore other global issues happening currently, apart from the Russia-Ukraine conflict, such as climate change and uneven global vaccine distribution, he added.
“The war in Ukraine has brought (G20’s stance) into question. There is also a heated debate about who should or should not be invited. As the G20 Presidency, Indonesia aims to maintain the integrity of the G20. The G20 must remain as G20, not as G19, or G13," he added.
WEFAM has been hosted this year after a break in 2021 due to the COVID-19 pandemic, with Indonesia participating in the international economic forum again through the Indonesia Pavilion and Indonesia Night.
The Indonesia Pavilion is a platform for conducting discussions, hosting seminars, and establishing connections with stakeholders from other countries. Meanwhile, Indonesia Night aims to promote Indonesian culture and cuisine to the world. Indonesia had set up the Indonesia Pavilion at the 2018, 2019, and 2020 WEFAMs.
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