Coordinating Minister Airlangga Invites Singapore To Strengthen Cooperation Within The G20 Framework

Coordinating Minister for the Economy Airlangga Hartarto (left) during his visit to Singapore (Photo: Doc. Coordinating Ministry for the Economy)

JAKARTA – Coordinating Minister for the Economy Airlangga Hartarto delivered a presentation on Indonesia's leadership in the G20 Presidency at the Singapore Ministry of Foreign Affairs.

On this occasion, Airlangga said, Indonesia is strongly committed to realizing a stronger joint economic recovery.

"Indonesia's G20 presidency will focus on three global and national priority areas, namely strengthening the global health architecture, digital-based economic transformation, and accelerating the energy transition," he said in a press statement quoted on Thursday, June 2.

According to Airlangga, this strategy is not only limited to G20 countries, but also requires support from various countries in the world.

"As a consensus-based forum, we encourage G20 members to work together to balance interests across diverse memberships, and to ensure no one is left behind," he said.

Airlangga added, Indonesia is open to partner support to produce pilot projects or lighthouses and economic cooperation, especially in the field of energy transition, developing market-friendly financing schemes, and providing funding to develop the transition from fossil fuels to renewable energy.

"As an example of accelerating the energy transition, there are three priorities under the G20 to achieve Net Zero Emission globally by the middle of this century, namely securing energy accessibility, increasing smart and clean technologies, and advancing energy financing," he said.

He explained that the energy sector is the source of about three quarters of greenhouse gas emissions.

Therefore, the G20 framework to guide the transition of major economies will be a major and systemic step forward for the global economy, including strengthening coordination and coherence with the G20 financial pathway agenda.

"Collaboration with the financial channel aims to provide a transitional financial and investment framework. It is also important to increase transitional actions across the Sherpa pathway," said Coordinating Minister Airlangga.