Indonesian Presidency for G20 is significant
Updated 16:17, 16-Nov-2022
Djauhari Oratmangun
Indonesian Presidency for G20 is significant

Indonesian Presidency for G20 is significant(1).mp3


Editor's note: Decision Makers is a global platform for decision makers to share their insights on events shaping today's world. Djauhari Oratmangun is Indonesian Ambassador to the People's Republic of China and Mongolia. The article reflects the author's views and not necessarily those of CGTN.

As the world has entered the third year of the COVID-19 pandemic, Indonesia must combine its determined effort this year to steer the G20 toward a global economic recovery.

G20, as the group of the world's top 20 major global economies, combines 80 percent of the global GDP, 75 percent of global exports and 60 percent of the world's population. For more than two decades, the G20 has served as an economic forum to discuss issues of international economic and financial cooperation. Each year, one country is selected to chair the forum and organize all sessions of the Sherpa Track, the Financial Track and Summit. On December 1, 2021, the Presidency of G20 was handed over from Italy to Indonesia, and will last until November 30, 2022. This is a historic milestone for the Southeast Asia's largest economy, which holds the G20 for the first time.

The Indonesian government is well aware that the opportunity to be the President of the G20 comes with great responsibility, which is even greater, given the current global challenges we face. As a strategic multilateral economic forum, the G20 can drive and accelerate the economic recovery in the world. In light of this, Indonesia has put forward the spirit of "Recover Together, Recover Stronger" as the main theme for its G20 presidency. This spirit of togetherness is what we need to create more inclusiveness and cooperation among G20 members to find the best solution for sustainable global recovery.

There are three priorities that Indonesia will focus on during its G20 presidency. The first priority is the global health architecture. Looking back to 2020 when the pandemic broke out and the aftermath that followed, we cannot help but recognize the vulnerability of the global health architecture. The pandemic is a wake-up call for the world to build resilient healthcare infrastructure. Today, about 80 percent of population in high-income countries has received at least one COVID-19 vaccine dose. Nonetheless, out of 88 member countries of the World Health Organization, less than 40 percent of their population is vaccinated, and in 36 of them, less than 10 percent, as of January 13. To help countries afford a stronger and better public health system, the G20 also established the Joint Health Financial Task Force to strengthen the Pandemic Preparedness, Prevention and Response Financing to combat the COVID-19 pandemic.

People participate in the third dose of COVID-19 vaccination in Jakarta, Indonesia, July 15, 2022. /CFP
People participate in the third dose of COVID-19 vaccination in Jakarta, Indonesia, July 15, 2022. /CFP

People participate in the third dose of COVID-19 vaccination in Jakarta, Indonesia, July 15, 2022. /CFP

The other priority is the digital transformation, which is requiring the world to quickly adapt to digitalization. Most aspects of human life have become digitalized and it's helping to drive economic growth. Accordingly, Indonesia's Presidency will address the uneven digital economic landscape and promote cooperation among members to create a more inclusive and sustainable digital economy ecosystem.

Another priority is the energy transition. The world is still struggling with climate change, and Indonesia wants the G20 to make the transition to clean and green energy. But green energy has to be affordable and sustainable in order to help countries achieve the Sustainable Development Goals.

Additionally, the Indonesian G20 Finance Track announced six priorities to be discussed: (I) exit strategy to support recovery, (II) addressing the scar effect to ensure future  growth, (III) payment system in the digital age, (IV) sustainable finance, (V) mainstreaming digital financing, and (VI) international taxation.

As the host country, Indonesia has organized more than 180 meetings and activities planned from December 2021 until the G20 Summit in November 2022.

Over time, President Joko Widodo emphasized that the G20 momentum is not about Indonesia hosting a big event. Furthermore, our efforts should not only focus on policy formulation, but on delivering tangible results that can benefit developing countries.

The G20 Presidency puts Indonesia at the center of international attention, especially in the areas of economics and finance. As the only G20 member among ASEAN countries, Indonesia can demonstrate to the world its leadership and resilience, and to provide a starting point for restoring economic confidence after the pandemic both at home and abroad.

The G20 cannot succeed without support from others. Indonesia will advocate for greater cooperation and raise the concerns of the developing, low and middle-income countries.

In less than one week, Indonesia will host the G20 Summit in Bali at a time when global challenges are more complex than ever. But I would like to reiterate here what I told my Chinese counterparts at the Ministry of Foreign Affairs, "The taller the tree, the stronger the wind." Despite these challenges, I am certain that Indonesia can demonstrate its ability to host a successful and fruitful G20 Summit in the next couple of days.

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