The forum supports the target of Indonesia's 2022 G20 Presidency to encourage business players to realize digital transformation as well as to expand access for MSMEs, so they can compete and become part of the global supply chain through the InclusiJakarta (ANTARA) - The Business 20 (B20) discussed four inclusive economic policy recommendations of expanding free trade, developing digital economy, improving inclusiveness, and bolstering green economy that will be presented at the 2022 G20 Summit.
"Indonesia's G20 Presidency is expected to produce breakthroughs that can expedite post-COVID-19 pandemic economic recovery in the world," Chair of the Trade and Investment Task Force of B20 Arif Rachmat noted in a statement on Friday.
B20 is G20's Sherpa Track official dialogue forum with the global business community. It provides practical policy recommendations from a business viewpoint to the G20. Meanwhile, the 2022 G20 Summit will be implemented in Bali on November 15-16, 2022.
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The recommendations aim to ensure that the business sector benefits all parties involved in the global value chain, including the micro, small, and medium enterprises (MSMEs), by increasing their capabilities and expanding their access to finance, markets, and technology.
The B20 is also preparing various programs that are expected to be passed on to the next presidency as the legacy of Indonesia's 2022 G20 Presidency.
One of the legacies initiated by the forum was a partnership with MSMEs through the Inclusive Closed Loop scheme to make small businesses as the main focus in driving the national and global economy.
In addition, collaboration between the government and private sector is the main key in accelerating economic recovery.
Co-Chair of the Trade and Investment Task Force of the B20 Juan José Daboub emphasized that the involvement of business players in B20 aimed at accommodating the sector actors to formulate better policies.
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"The forum supports the target of Indonesia's 2022 G20 Presidency to encourage business players to realize digital transformation as well as to expand access for MSMEs, so they can compete and become part of the global supply chain through the Inclusive Closed Loop scheme," he stated.
Through the scheme, various big enterprises are expected to help MSMEs to develop their businesses and boost their competitiveness.
“Through the B20, we (business players) also contribute in providing advice and sharing experiences regarding the concrete attempts to support MSMEs to become more competitive as well as to encourage economic growth. Collaboration among business actors and MSMEs also requires full support from the government, through (the government’s) policies and programs," Daboub added.
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Translator: Baqir Alatas, Uyu Liman
Editor: Fardah Assegaf
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