US Support Is An Opportunity To Expand The Indonesian MSME Market Abroad

President Joko Widodo (right) held a bilateral meeting with US President Joe Biden on the sidelines of a series of activities at the G20 Indonesia Summit in Nusa Dua, Bali. (Photo: Doc. Antara)

Political economic policy observer Reyhan Noor from the Indonesian Laboratory 45 (LAB 45) Research institute Reyhan Noor said Joe Biden's support for Indonesia as the center of world economic growth at the G20 Summit was an opportunity to expand the Indonesian MSME market abroad.

"Of course this is an opportunity to expand the MSME market. One of the driving factors to accelerate MSMEs so that they can quickly advance to class is the greater market so that they can increase the economic scale of the production carried out," Reyhan said when contacted in Jakarta, Tuesday.

He also added that related to competition, this support may affect policies that are fair, open, and transparent, as a result of the terms and criteria that need to be met by MSMEs to trade abroad.

"With high standards and comprehensive prerequisites, of course this will affect policies in Indonesia so that they can accommodate this opportunity," said Reyhan.

Previously, SOE Minister Erick Thohir revealed that the US supports Indonesia to become the center of world economic growth ahead of the G20 Summit in Nusa Dua, Bali.

US President Joe Biden is committed to supporting the improvement and development of Indonesia's economy as the center of world economic growth.

President Joko Widodo and President of the United States Joe Biden held a bilateral meeting ahead of the Indonesian G20 Summit.

This bilateral meeting is the first time Jokowi has held a series of G20 2022 Summits in Indonesia.

Jokowi expressed hope that the G20 Summit could produce concrete cooperation that could help the world in global economic recovery.