Labuan Bajo, The Indonesia Post – Coordinating Minister for Economic Affairs Airlangga Hartarto said that the forum of the world’s 20 largest economies (Group of 20/G20) must be able to demonstrate global leadership by providing solutions to various short-term and long-term challenges.
“Indonesia calls for your support to find a consensus regarding concrete and practical actions that show that the G20 is indeed a premier economic forum, including in the three priorities of the Indonesian G20 Presidency, namely global health, digital transformation, and energy transition,” he said in a keynote speech delivered virtually on Monday. the opening of the second G20 Sherpa Meeting held in Labuan Bajo, East Nusa Tenggara, Sunday.
In front of the sherpas from G20 member countries, invited countries, as well as a number of international organizations, Airlangga said that global challenges were getting bigger.
“Consequences of conflict drive structural challenges. Inflation and instability in energy and food security markets have had an impact on people’s lives and opportunities around the world,” he said.
He also cited a report by the United Nations World Food Program which stated that soaring food prices could put 323 million people in the world at risk of food insecurity.
The G20, he said, could take steps to protect those most vulnerable, by addressing disruptions to agricultural production, supply chains and trade.
“I want to underline that in this room, today, we have a responsibility to think about other people and to bring solutions. Millions of people suffer from the conflict in Ukraine. Millions of people around the world struggle to meet their basic needs for food, shelter and security,” he said.
He said that humanity should be prioritized in the activities of the G20 sherpa in Labuan Bajo.
Furthermore, he said that due to various challenges facing the world, global economic growth has declined, where the World Bank Group projects global growth of only 2.9 percent.
Meanwhile, developing countries will achieve economic growth of 3.4 percent this year, a figure that is only half of last year.
“Indonesia is one of the lucky ones, with a positive trend running, reaching 5.1 percent growth in the first quarter of 2022,” Airlangga added.
Exports also increased 16.2 percent and the trade balance reached 16.89 billion US dollars, the highest figure in 15 years.
However, he said that if Indonesia recovered on its own, it would be meaningless. Indonesia also invites the G20 to participate in promoting world recovery, so that all countries can be strong in facing various other challenges in the future.
The second G20 Sherpa meeting was held in Labuan Bajo, East Nusa Tenggara, from 10 to 14 July.
Representatives from 19 G20 member countries, six invited countries, and nine international organizations were present to follow various agendas covering three priority issues of the Indonesian presidency at the G20, as well as visits to a number of locations in Labuan Bajo such as Komodo National Park and Padar Island.
Meanwhile, one member country took part in virtual activities, namely the United States. (mhn/bbs)
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