Indef: RI Must Take Advantage Of Three Trade Points At The G20 Forum

Illustration/Photo: Antara

JAKARTA - An economist from the Institute for Development of Economics and Finance (Indef) Djulfian Syafrian said that Indonesia must take advantage of three things at the upcoming November 2022 G20 forum for the domestic trade sector.

"First is the promotion of various potentials that Indonesia has, particularly related to exports to partner countries and also tourism in the country," said Djulfian, quoted by Antara in Jakarta, Friday, April 15.

According to Djulfian, if it is optimized it will be able to reduce Indonesia's trade deficit as a result of increasing export and tourism performance.

Then look for various opportunities in other countries, thus opening up space for Indonesian companies to expand their business to partner countries.

"So far, very few of our companies have been able to penetrate the international market, let alone global. Many of our companies are still good at home, relying solely on the domestic market," said Djulfian.

He added that of course Indonesia would be very proud if it could see various Indonesian companies entering and conquering foreign markets.

The last thing that needs to be done, according to Djulfian, is to attract various investments to enter Indonesia.

"Basically, the G20 is a collection of countries that have the potential to become big-time investors. Therefore, Indonesia must be proactive in catching these big fish so that they can anchor their funds in Indonesia," said Djulfian.

It is known that Indonesia will hold the Presidency of the Group of Twenty (G20), which is the first time Indonesia has been elected as the seat holder of the G20 Presidency since the G20 was formed in 1999.

There are nine member countries invited to the G20 Summit which will be held in Bali in November 2022.

The representatives included Spain, the Chair of the African Union, the Chair of the African Union Development Agency-NEPAD (AU-NEPAD), the Chair of the Association of South East Asian Nations (ASEAN), the Netherlands, Singapore, the United Arab Emirates, the Chair of The Caribbean Community, and the Chairperson of the Pacific Island Forum (PIF).