Coordinating Minister for Economic Affairs Airlangga Hartarto. (ANTARA/HO-Coordinating Ministry for the Economic Affairs/rst)
The three main topics will become the focus for G20 country leaders to produce policy recommendations that are pro-people, concrete, and able to be implementedThe Indonesian Presidency in G20 is focused on producing economic projects that are implemented in order to support global economic recovery, according to Coordinating Minister for Economic Affairs Airlangga Hartarto .
"President Joko Widodo (Jokowi) wanted the Indonesian presidency in G20 to have economic cooperation projects that could be implemented to support global economic recovery," Hartarto noted in an official statement here, Tuesday.
The G20 is an international forum comprising 19 countries and the European Union that work together to handle major issues. Indonesia is holding the G20 Presidency this year.
He explained that the Indonesian Presidency in G20 focused on three main priorities, including reorganizing a more inclusive world health architecture by ensuring more equitable availability of vaccines and a resilient and inclusive health system.
The other priority is encouraging digital-based economic transformation to encourage Micro, Small, and Medium Enterprises (MSMEs) and create new sources of economic growth. Accelerating the transition to more equal environmentally-friendly energy between developing and developed countries that is affordable in terms of technology and financing is also being prioritized.
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"The three main topics will become the focus for G20 country leaders to produce policy recommendations that are pro-people, concrete, and able to be implemented," he noted.
Various ministries and institutions from the central to regional levels as well as from the private sector are involved in organizing various G20 Working Groups and Engagement Groups meetings that have been taking place since the start of 2022.
Regarding the energy transition issue, Hartanto stated that Indonesia will use its presidency as an opportunity to introduce its scenario in achieving net-zero emissions in 2060. The G20 member countries should also be concerned regarding funding sources for investment in energy transition to renewable energy.
"The Asian Development Bank (ADB) and other financial institutions are creating a financing model that will be economically optimal to accelerate energy transition, especially fossil-based energy," he remarked.
With regard to anticipating the possibility of an energy crisis due to the conflict between Russia and Ukraine, every country, including in Europe, prioritizes energy security since they will diversify their energy supply from Russia, for instance, in the form of LNG and coal.
RI's G20 Presidency prioritizes projects supporting economy recovery
“In the medium term, renewable energy remains important, and Indonesia continues to encourage it with various activities. The government will also provide incentives, such as fiscal incentives, to help support the transition process to renewable energy," he noted.
Hartarto also emphasized that the world needed new sources of growth and that one of the most feasible ways was through digitalization, which will further accelerate after the COVID-19 pandemic. The ASEAN region was considered to have huge digitalization potential and would be able to accelerate economic growth at the regional level.
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He further emphasized that during its presidency in G20, Indonesia will strive to balance the various interests of all G20 members, both developed and developing nations. This applied to discussions of several agendas in the Sherpa and Finance Track, including issues of health, energy, environment, climate change, and sustainable development.
One of the examples is by inviting representatives of developing countries and nations affected by global issues, for instance, countries in the Pacific region as the ones most affected by rising sea levels.
Good routine communication has also been established with all members in the G20 to maintain global trust in Indonesia's leadership in the G20.
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