Source: Ministry of Commerce Public Relation
Is G20 summit beneficial for manufacturing growth in Indonesia?
Minister of Industry Agus Gumiwang Kartasasmita said that the successful holding of the G20 Summit would be beneficial for manufacturing growth in Indonesia.
"As stated by Mr. President Joko Widodo, Indonesia ensures that the G20 benefits its members as well as for the world, especially for developing countries. In accordance with the theme recover together, recover stronger," said Minister of Industry Agus Gumiwang Kartasasmita in his statement in Jakarta, Sunday (20/11/2022).
Paragraph 37 of the Bali G20 Leaders Declaration mentions commitments related to, among others, trade, investment and industry, namely to strengthen international trade and investment cooperation to resolve supply-chain issues, as well as prevent trade barriers.
The G20 believes that trade and climate/environment related policies must support each other, and the WTO can be consistent and contribute to the objectives of sustainable development.
The G20 also understands the importance of inclusive international cooperation in digital trade, as well as the need for support for increasing added value through inclusive and sustainable investment in productive sectors, such as downstream manufacturing, digital trade, and services. In addition, bridging foreign investors with local companies, especially small and medium scale ones.
The G20 noted the addition of industry issues to TIIWG as an initiative within the Indonesian Presidency to discuss policy coherence between trade, investment and industry and to continue addressing industry-related issues within the broader G20 process.
"The issue of policy coherence between trade, investment and industry is important to face current and future economic challenges," explained the Minister of Industry.
The G20 also promotes the importance of digitalization, which is the key to recovery and strengthening across sectors, including supporting inclusive trade, industrialization and investment. In addition, it also increases productivity and opens up economic potential in the future, especially for SMEs, Small and Medium Manufacturing Industry Enterprises and Start-up. This is important to ensure that no one is left behind in the effort to transform society digitally.
"As the President said, the digital economy is the key to the future of the world economy which currently contributes around 15.5% of global GDP. Digital transformation also opens opportunities for small communities to become part of global supply chains. This is in line with the efforts of the Ministry of Industry and stakeholders such as the Indonesian Chamber of Commerce and Industry (KADIN) to facilitate links and matches between large industrial players and IKM," said the Minister of Industry.
This encourages Imajin as a manufacture start-up platform to participate in democratizing domestic Small and Medium Manufacturing Industry Enterprises in order to encourage a sustainable industrial sector. You can explore our website at www.imajin.id