"The main objective of development is to end poverty and improve living standards," Yudhoyono told a press conference held after the meeting.
The panel discussed poverty alleviation and decided that the subject must be high on the post-2015 development agenda.
Therefore, President Yudhoyono underscored the importance of promoting sustainable and equitable economic growth.
"Equitable and sustainable economic growth must be top priority on the post-2015 development agenda," he said.
Meanwhile, President Sirleaf stated that poverty alleviation "should be coupled with the promotion of gender equality in sustainable development efforts".
The meeting was one the most important events for President Yudhoyono during his visit to New York, from September 23-27.
Formed by the UN Secretary General, the panel is made up of global leaders from governments, businesses and civil societies who focus on global development. Among them are Queen Rania of Jordan, former German president Horst Kohler, Timor Leste Finance Minister Emillia Pires, Mexican Foreign Minister Patricia Espinosa, Yemeni journalist and human rights activist Tawakel Karman, former Japanese prime minister Naoto Kan, South African activist Graca Machel, and Unilever CEO Paul Polman.
The main objective of the panel is to gather inputs and recommendations for a new global development strategy after the end of the Millennium Development Goals (MDGs) programme in 2015.
The panel was set up to discuss and find ways to deal with current and potential challenges facing the global community.
"The global population, which is projected to reach 9 billion in 2050, will face many challenges in meeting basic needs such as food, job opportunities, energy, good health services, education and social guarantee," the Indonesian head of state said.
"Other important challenges will be climate change, natural disasters and social and economic gaps," he added.
President Yudhoyono pointed out that global cooperation was crucial to tackle such challenges and promote development.
"The partnerships must be aimed at achieving balanced economic growth, ensuring a balanced social life and protecting the environment," he stated.