The statement was made by the Institute for Development of Economics and Finance (INDEF) Executive Director Tauhid Ahmad here on Tuesday.
According to Ahmad, Indonesia should renew G20 strategic issues, so that the economic impacts of the Russian-Ukrainian war, which has deepened the global economic crisis, could be overcome.
"I think there should be an anticipatory agenda at the G20 Presidency forum related to fluctuations in oil prices and global commodity prices," he affirmed.
Ahmad explained that the conflict between Russia and Ukraine, which had been ongoing since February 2022, had triggered a hike in commodity prices, especially of oil and wheat.
Russia is one of the largest petroleum producers in the world, he remarked in addition to it being a major producer of metals and steel. Meanwhile, Ukraine is one of the main agricultural producer countries, with its chief product -- wheat -- exported to the Asian and African continents, he pointed out.
Ahmad stressed that during the G20 Presidency, Indonesia does not need to direct or bring the Russian-Ukrainian conflict to a juncture in order to find political solutions. Instead, the G20, as the forum of the world's largest economies, needs to focus on taking preventive steps against the economic impacts of the war.
"The peace agenda is at the United Nations, but the economic impact of the G20 agenda must be anticipated, not towards other parties but what anticipatory steps are necessary in the trade between countries," he elaborated.
As an example, Ahmad noted that a country should be able to substitute the supply of energy and food commodities from Russia and Ukraine.
"We know Russia and Ukraine supply some commodities, but other countries should open themselves to exports (of these commodities) to the world market," he stated.
On a separate occasion, President Joko Widodo (Jokowi) had stated that the war between Russia and Ukraine had worsened the global economic crisis, whereas earlier, the world had been severely affected by the COVID-19 pandemic.
"This (war) will deepen the world economic crisis and increase global political tensions," Jokowi remarked.
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Translator: Indra P, Kenzu T
Editor: Suharto
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