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Indonesia pushes G20 collaboration for industrial breakthroughs

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JAKARTA: Indonesia is seeking collaboration among G20 member nations for pushing breakthroughs and concrete action in the industrial, trade, and investment sectors to support post-pandemic global economic recovery, Industry Minister Agus Gumiwang Kartasasmita has said.
“We invite the members of the G20 to collaborate on overcoming the challenges caused by the pandemic and formulate strategies to achieve inclusive and sustainable industrial growth to create a stronger economy,” Kartasasmita remarked while attending the G20 Trade, Investment, and Industry Working Group (TWIIG), on Tuesday.
This will allow the G20 countries to be better prepared for facing various crises in the future, related to both economy as well as health, he added.
Kartasasmita said that the TWIIG forum is being held for the first time as part of the 2022 G20 event and has been initiated by the Indonesian government.
“For the first time, industrial issues are being discussed specifically at the G20 through TWIIG,” he noted.
Moreover, the industry is one of the main contributors driving economic growth in several countries, which have also been affected by the COVID-19 pandemic, he said.
Industry, trade, and investment are three important pillars of economic growth in many countries, he added.
“The investment sector is the upstream, industry is intermediate, and trade is the downstream. So, these are three important pillars of our economic development,” he remarked.
The Ministry of Industry has been assigned to facilitate discussions at the TWIIG forum on strengthening Industry 4.0 to spur economic recovery, the minister said.
“We will ask the G20 countries to accelerate the absorption of technology, especially in Industry 4.0, in order to create a global economic recovery,” he emphasized.
He said that the step is important since it has the potential to increase productivity and create inclusive and sustainable industrial growth, in line with the Sustainable Development Goals (SDGs).
“This will provide a good opportunity to all G20 members to implement a sustainable economy,” he added.

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