23November2017

Home Editorial THE RESULTS OF G-20 SUMMIT AND ITS IMPACT ON INDONESIA

THE RESULTS OF G-20 SUMMIT AND ITS IMPACT ON INDONESIA

The 12th G-20 Summit held on July 7-8 in Hamburg, Germany has been closed by producing several agreements such as countering terrorism, trade and climate change. In counter-terrorism, the G-20 Summit produced an action plan on the support of G-20 to start the process of Indonesia’s membership in the forum of the Financial Action Task Force (FATF). 

In trade, the G20 state leaders agree to fight protectionism and to promote fair trade practices. With global economic openness, the differences in income and living standards in various countries of the world can be minimized. In addition to the trade sector, as many as 19 country members of the G-20 Summit are also committed to adhering to the agreement on climate change contained in the Paris Charter. Of the 20 countries, only the US is openly pulling out of climate change deals because the Paris Charter would disrupt its economy. 

In addition to agreements with all G-20 members, President Joko Widodo, who attended the summit and became keynote speaker on terrorism issues, also held bilateral meetings with several leaders of G-20 member countries, including Prime Minister of Spain, Mariano Rajoy Brey. In the meeting, Indonesia and Spain agreed to increase cooperation in trade. 

President Joko Widodo also held a bilateral meeting with Norwegian Prime Minister, Erna Solberg. The Indonesian President called on the Norwegian government's attention on the Norwegian Parliamentary Resolution of June 2, 2017 on palm oil. President Joko Widodo rejected the resolution because it is considered inconsistent with the spirit of REDD + cooperation between Indonesia and Norway. It denied Indonesia's efforts to handle climate change, environmental protection and sustainable development. 

On the sidelines of the 12th G-20 Summit, President Joko Widodo also held a bilateral meeting with US President, Donald Trump. The two heads of state discussed the increased cooperation in the economic field and the eradication of terrorism. In the economic field, President Joko Widodo talked about the export of palm oil from Indonesia to the US. The G-20 is made up of countries that are home to two-thirds of the world's population and it accounts for 80 percent of the world's total trade. Hopefully, the policy and the results of the 12th G-20 Summit will have a significant impact on the world, including Indonesia.

Audio clip: Adobe Flash Player (version 9 or above) is required to play this audio clip. Download the latest version here. You also need to have JavaScript enabled in your browser.

Business Address

Jl. Merdeka Barat, 4-5, 4th Floor,

Jakarta 10110.

Phone: +62 21 3456 811,

Fax: +62 21 3500 990

email : This email address is being protected from spambots. You need JavaScript enabled to view it.