UNCTAD 15th Ministerial Conference General Debate, Indonesia Affirms Three Elements To Overcome The Impact Of COVID-19

JAKARTA - Deputy Minister of Foreign Affairs of Indonesia Mahendra Siregar emphasized that an inclusive economy, digitalization and a sustainable economy are three elements to overcome the challenges posed by the COVID-19 pandemic.

Representing Indonesia in the General Debate session of the 15th United Nations Conference on Trade Development (UNCTAD), the Deputy Minister of Foreign Affairs Mahendra said the three things have an important correlation.

The 15th KTM UNCTAD 4-7 October 2021 will take place in a hybrid manner with limited physical meeting locations in Geneva, Switzerland and Georgetown, Barbados. The activity carried the theme "From Inequality and Vulnerability to Prosperity for All" and was attended by 195 UNCTAD member countries.

"Inclusive economic development by developing a creative economy can help countries to diversify their economy and also help the process of economic transformation of countries," said Mahendra in a statement from the Ministry of Foreign Affairs, Wednesday, October 6.

He said, MSMEs, women and youth must be empowered to maximize the benefits of the opportunities created by the creative economy. This coincides with the momentum of 2021 which is designated as the International Year of the Creative Economy for Sustainable Development.

"Second, providing support for the expansion of digitalization. From this pandemic, one of the valuable lessons that can be learned is that business activities can survive economic downturns, if they can adapt and use the digital economy as a means of marketing products and expanding consumer reach," he explained.

Mahendra said, special attention is needed to bridge the digital balance between countries and between regions within a country, with affordable prices and access to reliable digital infrastructure, especially in developing countries.

The third or final element is the transition to a sustainable economy. According to him, the government needs to strengthen trade and investment policies, to contribute to the achievement of the climate and environmental goals of the 2030 Agenda.

"Emphasis on more concrete and coordinated actions, in accordance with the principles of Common but Differentiated Responsibilities (CBDR) and the capabilities of each country," he said.

The Deputy Minister of Foreign Affairs underlined the importance of building trust to ensure that environmental issues are not used as trade barriers. In addition, the Deputy Minister of Foreign Affairs also emphasized that a sustainable economy will not be achieved, when countries struggle to pay off debts that have increased due to the pandemic.

"UNCTAD support for developing countries is absolutely necessary, let's work together so that the results of the 15th UNCTAD meeting can help its members create a more inclusive, resilient, and sustainable world for a shared future," he concluded.