G20 Finance and Central Bank Deputies Meeting Runs Well with Productive Discussions

The convention of first Finance and Central Bank Deputies Meeting (FCBD) on December 9-10, 2021, which jumpstarted Indonesia’s G20 Presidency in the finance track was smooth and filled with productive discussion of agenda. In addition, the meeting received appreciation from G20 members, invitee countries, and international organization. This was stated in a press conference attended by Expert Staff to Minister of Finance for Macroeconomics and Finance, Wempi Saputra, and Deputy Governor of BI, Dody Budi Waluyo, today (Dec. 10) in Nusa Dua, Bali.

“The G20 is a forum for international cooperation where agendas for global economic order reform are discussed. By becoming the G20 Presidency, Indonesia leads the discussion on global economic and financial reform agendas to create a better governance and operating environment for global economy and finances and support the ongoing global economic recovery process.” said Wempi Saputra, Expert Staff to the Minister of Finance for Macroeconomics and International Finance as the G20 Deputy for Finance.

The Deputy Governor of BI, Dody Budi Waluyo, said, “The quality of preparation for the Indonesian Presidency was appreciated by all participants in terms of substance and implementation of events that took place in a hybrid manner with strict health protocols. We appreciate all participants in the Finance Track for their strong inter-agency collaboration, support from the Bali Provincial Government and also media partners.” Furthermore, Dody said that the six agendas raised in the Indonesian Presidency had been discussed with all participants and received good support.

FCBD covered 6 topics which were discussed in 6 sessions. The main issues discussed in session 1 included (i) the global economic outlook and risks; (ii) normalization of policies related to the pandemic; and (iii) the long-term impact of the pandemic. In the discussion of policy normalization related to the pandemic, the majority of members raised the importance of coordinating vaccine distribution and the need for vaccine funding, as well as the need for proper communication and phasing in policy normalization. In addition, structural reforms to increase efficiency and productivity are considered to be able to support efforts to overcome the long-term impact of the pandemic. In session 2, the discussion covered the issues of (i) the International Financial Safety Net; (ii) poor countries debt; and (iii) Central Bank Digital Currency. The discussion focused on the role of the G20 in maintaining global financial stability amidst increasing uncertainty, as well as joint efforts to address risks and support vulnerable countries.

Session 3 saw discussions on how to strengthen financial sector stability to promote inclusive and sustainable economic recovery. Discussions on the agenda of financial sector regulation include normalization of pandemic-related policies in the financial sector in order to support recovery and maintain financial sector stability. Also discussed were the efforts to overcome the long-term impact of the pandemic on the financial sector by continuing financial sector reforms to strengthen financial sector resilience and encourage intermediation. Other agendas that were also raised included efforts to strengthen non-bank financial institutions (NBFIs) resilience, especially those related to risk mitigation efforts, digital financial risk identification, as well as efforts to encourage the financial sector role in supporting sustainable financing and efforts to expand financial inclusion.

Session 4 discussed sustainable finance in relation to environmental-related agendas where the Deputies expressed support for the transition to a more equitable and affordable green economy. Furthermore, in session 5, the issue of quality and sustainable infrastructure was discussed. The deputies also discussed the importance of infrastructure inclusiveness in local governments. The meeting was concluded with a discussion on international taxation where the Deputies agreed to immediately implement Pillar 1 and Pillar 2 to create a more fair and stable taxation architecture.

The FCBD was held in a hybrid manner and attended by G20 members, invitee countries, 20 international organizations, and 3 regional organizations. The results of the discussion of the first deputies meeting will be further discussed in a more detail and concrete manner at the working group level of which the result will be raised to the ministerial level and at the summit.

Finance Track for Indonesia’s G20 Presidency Begins: Global Leadership Sustainability Drives Economic Recovery

The finance track for Indonesia’s G20 presidency officially commences today December 9, with the first Finance and Central Bank Deputies Meeting (FCBD) taking place on December 9—10, 2021. This was conveyed by the Minister of Finance Sri Mulyani Indrawati and BI Governor Perry Warjiyo at a press conference in Nusa Dua, Bali.

Currently, the world is still facing high levels of uncertainty due to the pandemic. Inequalities in economic recovery between advanced and developing countries that are still trying to recover from the pandemic due to limited access to vaccines widened. The improvement in global economic performance, especially in advanced countries, accompanied by growing inflationary pressures has also led to tighter policies (tapering), potentially making these recovery disparities worsen. Meanwhile, a prolonged pandemic will cause persistent or ‘scarring’ effects; thus, the right exit strategy and efforts to overcome the scarring effect problem are prerequisites for a sustainable recovery. The main agenda of Indonesia’s G20 presidency as directed by the President of the Republic of Indonesia is narrowed into 3 areas, specifically inclusive health, digital transformation, and energy transition. In addition to realizing equitable vaccination, Indonesia’s G20 presidency is expected to succeed in accelerating digitization and directing global policy coordination related to climate finance.

The Minister of Finance Sri Mulyani Indrawati in a press conference said, “Indonesia’s G20 presidency will be an opportunity for Indonesia to show its role in leading global forums to address various challenges and issues at the world level. Indonesia is determined to overcome the global challenges that will continue to arise and seek the best solutions, ensure that all countries recover together, and encourage policy reforms that support stronger, sustainable, balanced, and inclusive economic growth post-pandemic. Accordingly, Indonesia’s G20 presidency will be carried under the theme Recover Together, Recover Stronger“. The Ministry of Finance and BI will encourage discussion of six (6) priority agendas in the financial track, specifically (1) Coordination of exit strategies in supporting global recovery, (2) Efforts to handle the scaring effects of the pandemic on the economy to support stronger growth in the future, (3) Strengthening payment systems in the digital era, (4) Development of sustainable finance, (5) Improvement of an inclusive financial system, and (6) International Tax Agenda.

In an agreement with the statement of the finance minister, BI Governor Perry Warjiyo, on the same occasion stated, “This initial meeting plays an important role in ensuring the sustainability of the G20 presidency in supporting global economic recovery both in the short and long term, in line with the theme Recover Together, Recovering Stronger”. In maintaining sustainability and strengthening global collaboration, today’s FCBD meeting involved the troika finance minister, namely the Italian Minister of Economy and Finance Daniele Franco, the Indonesian Minister of Finance Sri Mulyani Indrawati, and the Indian Minister of Finance Nirmala Sitharaman, in a hybrid High-Level Discussion which discussed various priority agenda in facing economic challenges. The meeting also discussed Recover Together: Policy Setting for Smooth Exit Strategy, and Recover Stronger: Addressing Scarring Effect to Secure Future Growth. The discussion presented panelists from the International Monetary Fund (IMF), Financial Stability Board (FSB), World Health Organization (WHO), World Bank, Bank for International Settlement (BIS), and Organization for Economic Cooperation and Development (OECD). Furthermore, Perry added that the finance track priority agenda in the G20 Presidency is relevant to BI tasks, including international cooperation in normalizing monetary policy, the implementation of regulations in the financial sector that is conscientious to financial sector readiness, and digitizing payment systems, including the Central Bank Digital Currency (CBDC).

In its G20 Presidency, Indonesia will continue several legacy issues, specifically (1) Integrating pandemic and climate risks in monitoring global risk; (2) Strengthening the Global Financial Safety Net (GFSN); (3) Increasing Capital Flow; (4) Continuing the Data Gap Initiatives; (5) Improving Financial Sector Regulatory Reform; (6) Strengthening debt management and transparency; (7) Accelerating the infrastructure agenda towards sustainable and inclusive development; (8) Optimizing financing support from multilateral development banks (MDBs); (9) Strengthening health system capacity in pandemic prevention, preparedness and response; and (10) Continued support for attracting private sector investment in low-income countries, such as in the African region.

The priority agenda and legacy issues of Indonesia’s G20 Presidency are expected to balance the global agenda with domestic priorities and interests, as well as align the interests of various parties, both developed and developing countries.

Kicking off G20 Presidency, Indonesia Holds First G20 Sherpa Meeting in Jakarta

“The G20 must be a catalyst for an inclusive, strong, and sustainable global recovery,” Indonesian Minister of Foreign Affairs Retno L.P. Marsudi emphasised when opening the first G20 Sherpa Meeting, December 7, in Jakarta. The meeting, scheduled to last December 8, 2021, was the first of more than 150 meetings planned to take place throughout Indonesia’s G20 Presidency.

The Minister also encouraged the G20 to achieve concrete results in three priority areas, namely health, digital transformation, and energy transition, which, she said, “will bring great benefits to global community and the achievement of the SDGs”.

In line with the statement, Indonesian Coordinating Minister for Economic Affairs, Airlangga Hartarto, in his keynote speech, stated that the G20 must promote a forward-looking and action-oriented agenda. He pointed out a number of Indonesia’s strategic plans during its G20 Presidency, including from mobilizing global health funding, establishing vaccine hubs in various regions of the world, empowering MSMEs through digitalization, to establishing technology collaboration in the energy sector.

The first Indonesia’s G20 Sherpa Meeting was chaired by Indonesia’s G20 Co-Sherpas, Ambassador Dian Triansyah Djani who is a Special Advisor to the Minister for Foreign Affairs on the Strengthening of Priority Programs, and Dr. Edi Prio Pambudi Advisor to the Coordinating Minister on Economic Affairs for Connectivity, Service Development, and Natural Resources. This meeting is strategically essential for it discusses the priorities and work plans of the Indonesia’s G20 Presidency in realizing the vision of “Recover Together, Recover Stronger”.

The meeting specifically presented 2 prominent briefers, namely Dr. Tedros Adhanom, Director General of the World Health Organization (WHO) and Dr. Mari Pangestu, the World Bank Managing Director. Dr. Tedros in his presentation on the current state of the handling COVID-19 pandemic emphasized the importance of strengthening global health funding governance and schemes, also related to prevention, handling, and readiness to face a pandemic. Meanwhile, with respect to the world economic recovery, Mari Pangestu who was  representing the World Bank conveyed global economic growth prospects as well as possible collaborations to encourage world economic recovery.

This Sherpa meeting serves as an opportunity for each G20 Working Group chaired by Indonesia to convey their priorities. The Working Groups include Health; Development; Education; Employment; Digital Economy; Investment, Trade and Industry; Agriculture; Environment and Climate Change; Energy; Corruption Eradication; Tourism; and Women’s Empowerment.

In general, the delegates welcomed Indonesia’s priorities presented in each Working Group. In particular, there is an opportunity for Indonesia to play its role in bridging the views of developed and developing countries

Indonesia also made a new breakthrough in this Sherpa meeting, by introducing a Sherpa retreat session called the “Sofa Talk”. This is a brainstorming session for the G20 Sherpas, for a more in-depth and open dialogue about efforts to continuously improve the G20’s relevance and performance. On the sidelines of the meetings, there was a visit to the Center for Digital Industry Innovation (PIDI) in South Jakarta, as an effort to introduce Indonesia’s digital industry and SMEs.

Sherpa Track is a G20 track that oversees discussions on development in various fields. The Sherpa meeting was participated by delegations from 24 member countries, invitees and international organizations who attended the meeting in person in Jakarta, while 15 delegates attended the event virtually.

1st G20 Sherpa Meeting: Indonesia Calls for World’s Cooperation to Achieve Inclusive, Sustainable Economic Recovery

Indonesia’s G20 Presidency in 2022 is the third G20 presidency in the midst of the  COVID-19 pandemic hit the world, so it becomes a vital part of the global economic  recovery process. In fact, the COVID-19 pandemic is still ongoing, especially with the  presence of a new variant. In addition, the inequable global economic recovery has  caused an increase in poverty and a failure in achieving SDGs’ target by 2030. 

Therefore, global collaboration through the G20 forum is needed to reshape the health  architecture and governance, as the main requirement in realizing the world’s  economic recovery. As a premier forum for multilateral economic cooperation, the G20  now has to produce concrete steps and major breakthroughs to speed the collective  recovery and become stronger. 

“The G20 Presidency is an opportunity to show Indonesia’s leadership in the global  arena to address various challenges. Of course, the national interest is also the  Indonesian Government concern that includes realizing an inclusive, strong, and  sustainable economic recovery,” said the Coordinating Economic Affairs Minister  Airlangga Hartarto in a keynote speech in the 1st Sherpa Meeting of the G20 Indonesia  in Jakarta, Tuesday, Dec. 7. 

In line with the WHO’s target of 40 percent of the total population receiving the second  dose of vaccine, Indonesia is expected to reach about 113 million people receiving the  full dose or 41.8 percent of the country’s total population or about 54.3 percent of the  total target by the end of 2021. Currently, the second dose vaccination program has  reached 99.6 million people or about 37 percent of the total population, about 47.8  percent from the target. 

Therefore, Indonesia carries the theme “Recover Together, Recover Stronger” in its  G20 Presidency. Through this theme, Indonesia calls for the world’s cooperation to  achieve a stronger, inclusive, and sustainable economic recovery. The G20 should be  able to expand the economic inclusion and handle a variety of structural problems that  inhibit efficiency and productivity.

Indonesia’s G20 Presidency carries 3 main topics, namely: 

• the global health architecture: an attempt by Indonesia to rebuild and  strengthen the post-pandemic global health governance and architecture as  well as to encourage ASEAN countries, especially Indonesia, to become a  transfer hub for the development and production of vaccines;  

• digital-based transformation: an effort to create economic value through digital  technology and encourage the digitization of new growth engines; and  • energy transition; an attempt to expand access to technology towards clean  and affordable energy and fund to accelerate the transition towards more  sustainable energy. 

“The three main topics will be a guidance to produce policy recommendations that are  more pro-people, concrete, and applicable,” said Minister Airlangga. 

Indonesia’s G20 Presidency is expected to contribute to the national and global  economic recovery, including small and developing countries. Indonesia would like to  invite the G20 member states, invited guest countries, and international organizations  to formulate concrete actions for the global economic recovery. 

“The arrivals of delegations are also expected to bring economic benefits to  Indonesians, both directly, for instance, in accommodation, hospitality, transportation,  and SMEs sectors, as well as indirectly by increasing the investors’ confidence to  Indonesia,” said Minister Airlangga. 

The 1st G20 Sherpa Meeting is the first and the opening of the series of meetings of  Indonesia’s G20 Presidency held in Jakarta on Dec. 7—8. It will be followed by the  First Deputy of Finance and the Central Bank Meeting (Finance Track) in Bali on Dec.  9—10. 

At both the Sherpa Track and Finance Track meetings, Indonesia will raise the priority  agendas that become Indonesia’s G20 Presidency focus. The G20 members, invited  guest countries, and international organizations are expected to discuss and formulate  concrete and deliverable initiatives that are responsive to global challenges. 

“The G20 Forum is expected to be a wake-up call for all of us and not to be an ‘Ivory  Tower’ which is not sensitive to global economic conditions. It is important for the G20  to be a troubleshooter over the global uncertainty and problems,” said Minister.

He also said that on the second day of the 1st G20 Sherpa Meeting on Dec. 8, the G20  Sherpas will visit Indonesia Digital Industry Center 4.0 (PIDI 4.0) which becomes one  of concrete initiatives by Indonesia to promote the digital industry and realize the  digitization of industry. 

PIDI 4.0 is a one-stop solution in accelerating the Industry 4.0 transformation in  Indonesia and a window of Indonesia 4.0 to the world. PIDI 4.0 offers five main  services in helping the conventional industry’s transformation to Industry 4.0, namely  Showcase Center, Delivery Center, Capability Center, the Ecosystem for Industry 4.0,  and Engineering and AI Center. 

“Making Indonesia 4.0 is an Indonesian proposal that is industry 4.0 transformation,  creating a modern, eco-friendly, sustainable, and highly competitive industry  ecosystem,” said Minister Airlangga. 

Foreign Minister Retno Marsudi added Indonesia’s G20 Presidency shall be able to  produce concrete solutions, particularly to the global economic recovery. The G20  should be able to produce benefits for all parties, both east-west and north-south. 

“The G20 should be down-to-earth in generating solutions to address global  challenges. The G20 should also be a driving force for a more inclusive and  sustainable the recovery. G20 Sherpas have a major role in giving clear directives to  turn challenges into opportunities and guide our leaders in an ever-changing world,”  said Minister Retno. (rep/fsr/hls/t.flw) 

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Secretary of the Coordinating Ministry for Economic Affairs 

Susiwijono Moegiarso 

Website: www.ekon.go.id 

Twitter, Instagram, Facebook, and Youtube: @PerekonomianRI  Email: humas@ekon.go.id  

LinkedIn: Coordinating Ministry for Economic Affairs of the Republic of Indonesia

HM.4.6/455/SET.M.EKON.3/10/2021 

President Jokowi Calls for Concrete Action to Recover Together at Indonesia’s G20 Presidency Inauguration

JAKARTA, December 1, 2021 – Indonesia officially assumes the G20 Presidency 2022. The inauguration was marked by President Joko Widodo’s speech at Indonesia’s G20 Presidency Opening Ceremony on Wednesday, Dec. 1, at Lapangan Banteng Square, Central Jakarta.

President Joko Widodo is honored to be entrusted as the G20 Presidency given to the country for the first time. “Today is a day to remember for the course of Indonesian history, because for the first time, Indonesia, a developing country, is trusted to assume the G20 Presidency. This is also an opportunity for Indonesia to show the world that Indonesia can give a greater contribution to the world economic recovery and healthier and equitable governance development founded upon freedom, eternal peace, and social justice,” said President Joko Widodo.

Under the theme ‘Recover Together, Recover Stronger’, Indonesia raised three priority issues, namely inclusive healthcare, digital transformation, and sustainable energy transition. President Joko Widodo is committed that the Presidency will produce a series of real actions along with the other member states, not just a ceremonial event. 

“Through concrete initiatives, the world will soon recover and rise stronger. Recover Together, Recover Stronger,” said the President.

In his speech, President Joko Widodo also ensures Indonesia’s G20 Presidency will be used to promote the aspirations and interests of developing countries.  Indonesia will seek to build a healthier and equitable world governance and ensure the impact can be felt by the entire community.

Inclusiveness and togetherness are the key words of Indonesia’s G20 Presidency. By raising the commitment of developed countries to assist developing countries, Indonesia seeks to strengthen solidarity in the effort to address climate change to realize sustainable development.

At the Opening Ceremony, the Coordinating Economic Affairs Minister symbolically handed over tasks to the chairs of the Working Groups (WG) and Engagement Groups (EG) who will lead a series of G20 meetings next year.

The Opening Ceremony which was organized by the Coordinating Ministry for Economic Affairs in collaboration with the Provincial Government of DKI Jakarta was enlivened by the art and music performances of the national artists. The Provincial Government of DKI Jakarta is also a Co-chair of Urban20, one of the Engagement Groups of the G20.

“Famous for its natural beauty and its culture, I invite the delegates to come to Indonesia to witness the uniqueness of cultural diversity and feel the hospitality of the people of Indonesia. Indonesia has also a variety of delightful culinary. With open arms and full of excitement, I would like to say: Welcome to Indonesia,” said the President. 

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For more Information, please visit the official website www.g20.org or contact: 

Usman Kansong

Director General of Public Information and Communications

Ministry of Communications and Informatics of the Republic of Indonesia

E-mail : usma004@kominfo.go.id 

Phone : (+6221) 350 3735

President Joko Widodo Encourages G20 to Strengthen Global Health Architecture for Economic Recovery

JAKARTA, October 31, 2021—President  Joko “Jokowi” Widodo highlighted the importance to strengthen global health architecture that adheres to the principles of solidarity, equality, justice, and transparency, at the first session of the G20 Summit on Oct. 30 in Rome, Italy.

“In order to overcome the global crisis, the President proposed a number of measures including drawing a mechanism for the mobilization of global health resources, establishing health protocols for cross-country activities, and optimizing the role of the G20 in overcoming scarcity and inequality of vaccines, medicines, and essential health equipment.” Foreign Minister Retno Marsudi told the press on a Virtual Press Release on the Result of Rome Working Visit.

During the meeting, world leaders discussed efforts to weather the economic and health crisis caused by the Covid-19 pandemic. In addition to emphasizing on strengthening global health resilience, President Joko “Jokowi” Widodo also emphasized the importance the acceleration of a stronger, more inclusive and sustainable global economic recovery.

According to Foreign Minister, the meeting resulted in a shared view among the leaders, that the pandemic is not over and the world economy has not yet recovered. Furthermore, the leaders agreed to support the global strategy issued by WHO on the requirement for 40 percent vaccination by the end of 2021 and 70 percent by mid-2022.

Finance Minister Sri Mulyani Indrawati added that global economic recovery did occur, however, it is not equally distributed. One of the reasons is the unequal access to vaccines between developed countries, developing countries, and the least developed countries.

“Covid is an actual threat to the world economy, so in the discussion between the Finance and Health Ministers, it was agreed to draw a mechanism of pandemic preparedness,” said Finance Minister.

The President has made interventions that encourage the strengthening of the global health architecture through a commitment on collaboration to control global pandemic by ensuring timely, fair, safe, and affordable access to vaccines, therapeutics, diagnostics, and health equipment as global public goods.

“The G20 has agreed to form a Joint Finance-Health Task Force, a working unit of G20 finance and health ministers which aims to prepare prevention, preparedness, and response or PPR from the pandemic, which is co-chaired by Indonesia’s and Italy’s finance Ministers,” she explained.

The form of the task force will be further discussed under Indonesia’s G20 Presidency. In this regard, Indonesia plays an important role considering that it is a large country and it has committed to vaccination achievements.

MSMEs and the Role of Women for Indonesia’s National Economy

During the G20 summit Side Event entitled “Supporting SMEs and Women-owned Businesses to Bounce Back”, the President emphasized that empowering MSMEs and women has become a central policy in accelerating the implementation of the Sustainable Development Goals (SDGs) in Indonesia.

In his explanation, President Joko “Jokowi” Widodo provided several examples of the government’s support in empowering MSMEs and women through several inclusive programs such as the Micro Waqf Bank, the Mekar Program, Ultra Micro Financing, the People’s Business Credit (KUR), and other programs related to the digitization of MSMEs. Such government programs involved 65 million MSMEs that contribute to 61 percent of the national economy, where 64 percent of MSME actors are women. In this event, Ratu Maxima also appreciated Indonesia’s inclusive economy program which also involved online motorcycle taxi services.

In addition to the above two agendas, President Joko “Jokowi” Widodo also held bilateral meetings with three countries, namely Australia, France, and Turkey, and with the World Bank.

At the bilateral meeting with Australia’s Prime Minister Scott Morrison, the two countries reached an agreement on a Joint Statement on Cooperation on Green Economy and Energy.

Indonesia’s Coordinating Minister for Economic Affairs Airlangga Hartarto explained, “Australia also agreed that policies in the energy sector and energy transition must be followed by financing and investment related to climate and affordable and available technology. This is expected to encourage the acceleration of green energy.”

On the issue of the pandemic, the two countries discussed cooperation in opening tourism access with the recognition of vaccine certification by a number of countries (Vaccinated Travel Lane/VTL). President Joko “Jokowi” Widodo also appreciated Australia’s assistance of the 10.5 million doses of vaccine delivered for Indonesia some time ago.

Meanwhile, the bilateral meeting with the President of France Emmanuel Macron related to cooperation in the field of primary weaponry defense system (alutsista) and joint production. France expressed its support in Indonesia’s G20 Presidency. Indonesia also discussed the cooperation between Indonesia and the EU with France, as the current President of the EU.

“Indonesia hopes that the acceleration of EU-CEPA for Indonesia’s economy will increase Indonesia’s exports to Europe and vice versa,” said Coordinating Minister for the Economic Affairs Airlangga. The two countries also discussed the issue of climate change mitigation related to the prevention of deforestation. President Joko “Jokowi” Widodo revealed that currently, forest and land fire cases have reached their lowest point in the last 20 years. President Joko Widodo is committed to making efforts to restore mangrove forests up to 600 thousand hectares in the next 3 years.

At the bilateral meeting with Turkey, Indonesia discussed several cooperation including related to Indonesian CPO which has a large market in Turkey. Turkey President Recep Tayyip Erdogan also revealed his plan to visit Indonesia in early 2022 to discuss the Comprehensive Economic Partnership between Indonesia and Turkey (IT-CEPA).

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Foreign, Finance Ministers Emphasize Inclusiveness, Importance of Global Cooperation in Pandemic Handling

JAKARTA, OCTOBER 30, 2021 – In the series of the Ministerial Meeting on Oct. 29, Foreign Minister Retno Marsudi attended three bilateral meetings with the Foreign Secretary of Mexico, Foreign Minister of India, and State Councilor and Foreign Minister of China.

Foreign Minister Retno Marsudi said that Indonesia is consistent to voice the interests of developing countries, particularly in the issues of health, the pandemic and global economic recovery, climate change, and energy transition. This is reflected on the great theme of Indonesia’s G20 Presidency, “Recover Together, Recover Stronger”.

In a bilateral meeting with Indonesia, Mexico’s Foreign Secretary stated the theme of the presidency and the approach that will be taken by Indonesia in the upcoming G20 are the right things. They also exchanged the position of each country toward the issues of climate change and energy transition. Indonesia and Mexico agreed on the importance of the commitment that has been made to be filled, including for the provision of the adaptation fund promised by developed countries.

“Under the ambitious theme of ‘Recover Together, Recover Stronger’, I underline that Indonesia will give great attention to the interests of developing countries. Inclusiveness will be the keyword of Indonesia’s G20 Presidency,” said Minister Retno Marsudi.

The theme of the presidency and the approach that will be taken by Indonesia at the G20 also gain full support from India’s Foreign Minister. For information, India will assume the G20 Presidency in 2023. In line with the Indonesia’s agendas, India will also give great attention to the interests of developing countries in the next G20 presidency.

Furthermore, India is one of 19 countries that are allowed to visit Bali for tourism purpose. The two ministers discussed the possibility of making Vaccinated Travel Lanes (VTL) and the recognition of vaccine certificate to protect travelling. Indonesia’s FM also said COVID-19 control in the country has gained a significant progress that the positivity rate has reached 0.4 percent in the last few days.

The Importance of Global Cooperation in the Pandemic Handling

On the same day, Finance Minister Sri Mulyani and Health Minister Budi Gunadi attended the G20’s Finance Minister and Health Minister Summit which discussed the commitment to address the world’s pandemic as soon as possible. One of the issues discussed is how to ensure a timely, fair, safe, and affordable access to the vaccine, therapeutic, diagnostic, and medical equipment as global public goods.

In a virtual press statement, Finance Minister Sri Mulyani said, “The world’s recovery from pandemics is occurring but not evenly. One of the reasons is an unevenly vaccine distribution around the world, between developed, developing, and other countries”. 

At the meeting, the Minister stated that the new Delta variant has a very high level of spreading and gives uncertainty on the end of the pandemic. Minister Sri Mulyani also expressed Indonesia’s support for the formation of the G20 Finance-Health Joint Task Force as a mechanism for cooperation in addressing issues related to prevention, preparedness, and response to pandemics (Pandemic PPR).

“I believe every person has the same view, that we must respond the pandemic immediately. We need to make sure there is a way to detect and cope with health threats in the future. We need to strengthen the role and enhance the achievement of the WHO. We need to ensure the availability of financing to do all that,” said Minister Sri Mulyani.

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President Joko Widodo to Receive G20 Presidency from Italy

JAKARTA, 29 OCTOBER 2021 – President Joko “Jokowi” Widodo together with the Coordinating Minister for Economic Affairs and a number of Indonesian delegates today Oct. 29 went to Rome, Italy to attend the G20 Leaders’ Summit which will be held on October 30—31, 2021.

“In addition to attending the main event, I was also invited to speak at the G20 Summit’s side event on MSMEs and the role of women. This invitation signifies the worldwide recognition towards our policy that favors MSMEs and the role of women in the MSME business,” he explained in a press statement today, Oct. 29.

President Jokowi also stated that he is scheduled to attend a number of bilateral meetings before accepting the chairmanship of the Presidency from Italy on October 31, 2021. For the first time, Indonesia will become part of the G20 Troika together with Italy and Saudi Arabia.

Previously, Minister of Foreign Affairs Retno Marsudi, Monday, Oct. 25 at the State Palace in Jakarta, explained that President Jokowi will present three main agendas at the G20 Rome Summit. “The president will convey his views on three main agendas, specifically global economy and global health, climate change and environment, and sustainable development.”

The President is scheduled to speak at the Side Events entitled “Supporting SMEs and Women-owned Businesses to Bounce Back”, with Queen Máxima of the Netherlands, Italian Prime Minister Mario Draghi, and Chancellor Angela Merkel of Germany.

Under Italy’s leadership, this year’s G20 Summit is focused on producing the G20 Rome Leaders’ Declaration, which contains the joint commitments of G20 countries in seeking global recovery from the current pandemic and economic crisis, as well as the strengthening of G20 cooperation in various sectors including the health sector, sustainable development, environment, climate, employment, and education.   

Inclusiveness, the Focus of Indonesia’s G20 Presidency

Last September, the Government of Indonesia announced “Recover Together, Recover Stronger” as the theme for the Indonesia’s G20 Presidency in 2022.

In his speech at the UN General Assembly, President Jokowi asserted that “Indonesia will strive so that the G20 works for the benefit of all; the developed and developing countries, north and south, large and small countries, island countries and small islands in the Pacific, as well as vulnerable groups that must be prioritized. Inclusiveness is the main focus of Indonesia’s G20 presidency in 2022. This is Indonesia’s commitment in applying the principle of No One Left Behind.” 

At the fourth meeting of the G20 Finance Ministers and Central Bank Governors held in Washington, D.C. Oct.13, Minister of Finance Sri Mulyani Indrawati invited the G20 member countries and conveyed the focus of the Indonesian G20 Presidency. “I invite and look forward to your support for the upcoming Indonesia’s G20 Presidency. We will focus the agenda on global issues in the context of 2022 and beyond. We will also leverage the G20 global leadership and develop collective action to ensure we can all recover together and recover stronger.”

Indonesia is also ready to reap the benefits of the G20 Presidency. Coordinating Minister for Economic Affairs Airlangga Hartarto explained that economically, there are at least three benefits to be obtained by Indonesia for its G20 Presidency, specifically the opening of opportunities in increasing domestic consumption which can reach Rp1.7 trillion, additional GDP which is estimated to reach around Rp7.47 trillion, and the employment of around 33,000 workers in various industrial sectors in the future.

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