Indonesia pushes digital economy at Bosphorus Summit

Indonesia pushes digital economy at Bosphorus Summit

Indonesian Ambassador to Turkey, Lalu Muhamad Iqbal (first right), speaking at the Bosphorus Summit, held in Istanbul from March 8 to 9, 2021. (HO-KBRI Ankara)

Digital economy can serve as a solution because it constitutes cross-border economy, without distance and sector constraints. If it develops within a good ecosystem, it can create a digital spillover to the non-digital economic sector.
Jakarta (ANTARA) - Indonesian Ambassador to Turkey, Lalu Muhamad Iqbal, advocated digital economy as a solution to the global economic crisis at the Bosphorus Summit, which was held in Istanbul from March 8 to 9 this year.

Digital economy can serve as one of the solutions to the global economic downturn caused by the COVID-19 pandemic, he said in a written statement released on Tuesday.

"Digital economy can serve as a solution because it constitutes cross-border economy, without distance and sector constraints. If it develops within a good ecosystem, it can create a digital spillover to the non-digital economic sector," he observed.

Quoting Oxford Economic data, Iqbal said the global digital economy was valued at US$11 trillion (Rp158,640 trillion) in 2016 and its value is projected to more than double to US$23 trillion (Rp331,703 trillion) in 2025.

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Indonesia's digital economy is projected to reach US$40 billion (Rp676,9 trillion) this year, he said.

Meanwhile, Turkey's digital economy is expected to touch US$15 billion this year and grow to US$30 billion in 2023, he noted.

"To that end, Indonesia and Turkey have recently started to push for digital economic cooperation," he said.

The Bosphorus Summit is a strategic forum for the Balkan region that is held every year in Istanbul, Turkey. The forum brings together CEOs, policymakers, politicians, academics, senior journalists, and social and non-governmental organization activists from Balkan countries.

The 11th Bosphorus Summit was the first international-scale forum to be held in Turkey since the COVID-19 pandemic broke out last year.

The Indonesian Embassy in Ankara served as a strategic partner in organizing the summit this year. (INE)

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