Indonesia will host a meeting of heads of state G20 members. This deviates from the decision to appoint Indonesia to chair the G20 summit (summit) until 2022. This made Indonesia the fifth country in Asia to host the G20 summit, after Japan, China, South Korea and Saudi Arabia. This news is also positive news for the country’s economy.
During the Covid-19 pandemic that hit the world, almost all sectors of the country’s economy were affected, including members of the G20. This issue has become one of the main topics of discussion on several agendas of the G20 meetings.
Currently, Indonesia has been operating since December 1, 2021 through Implementation of the G20 summit in November 2022. Citing Bank Indonesia’s official website, every G20 member country has the right to hold a presidential function and will change every year. The existence of this presidency distinguishes the G20 from other multilateral fora.
The G20 forum does not have a permanent secretariat. One of the G20 member countries is appointed to the presidency. Based on the decision on Summit of Riyadh In 2020 Indonesia will hold the G20 presidency in 2022. This was in the sign of the handover at the end of the Rome summit from 30.-31. October 2021.
What is G20?
President Joko Widodo at the conclusion of the G20 summit in La Nuvola, Rome, Italy, Sunday (31/10). Photo: Laily Rachev – Sek Press Bureau (Katadata)
G20 or Group of twenty is one of the multilateral fora in which Indonesia participates. Start from Presidentri.go.id, President Joko Widodo (Jokowi) said that Indonesia would carry the issue under the G20 presidency “Relax together, recover more”. According to Jokowi, the G20 presidency will focus on three things.
In these three topics, integrative health management, digital-based transformation and the transition to sustainable energy are discussed. This moment is a good opportunity for Indonesia and other developing countries to fight for their aspirations and to feel the positive benefits of each G20 member country working together.
In fact, the G20 forum started around 1999 and the first G20 summit started in 2008. However, most Indonesians may not know what the G20 is and how many member countries the G20 are. When the public knows the intricacies of the G20, they can follow all the news and see what Indonesia’s role is at any G20 meeting.
Launch site Bi.go.id, The G20 is a multilateral cooperation forum consisting of 19 large countries and the European Union (EU). The members of the G20 countries currently include South Africa, the United States, Saudi Arabia, Argentina, Australia, Brazil, India, Indonesia, Great Britain, Italy, Germany, Canada, Mexico, South Korea, Russia, France, China, Turkey and the European Union.
The G20 Forum is a strategic forum; its members represent more than 60% of the world’s population, 75% of world trade and 80% of world GDP. There are actually no specific criteria for becoming a member. It is clear, however, that member countries must exert influence and contribute to the global economy and maintain global financial stability.
According to another source, the country has to be in the top 20 global economies to join the G20. This can be seen in the gross domestic product (GDP).
World leaders at the G20 summit in Osaka (BETWEEN PHOTOS / REUTERS / Kim Kyung-Hoon)
Since the G20 summit in Washington, USA in 2008, there have been at least three main issues that the G20 heads of state and government have always been concerned with. First, Response to the crisis. The second is the question of reform of the international financial institutions and the third is the question of trade. The main goal of the G20 at the time was rather to find a way out of the crisis.
Since then, the topics discussed at every G20 summit have expanded. The meeting of the heads of state and government of the G20 countries focused not only on financial and economic issues, but also on non-financial issues.
In the mechanism, each G20 meeting is divided into two paths, namely: Financial range and Sherpa route. The formation of the G20 itself is not just a mere ceremonial forum. In addition, there are a number of real roles that each of the G20 member countries assumed.
Still cited by Bank Indonesia’s official website, several real-world roles played by the G20, among others, such as overcoming the global financial crisis of 2008, led to the forerunner of Base erosion and profit shifting (BEPS) to help deal with Covid-19.
The G20 is a useful forum for Indonesia and its member countries. All G20 member countries will also benefit from this relationship.
History of the G20
G20 (BETWEEN PHOTOS / Pool via REUTERS / Ludovic Marin.)
According to the official site SHERPA G20 Indonesia, The genesis of the G20 goes back to the disappointment of the international community with the G7 states in their search for solutions to global economic problems. In 1999 this forum was founded.
The G7 countries (USA, Great Britain, Italy, Japan, Germany, Canada and France) are joining industrialized and developing countries in order to tackle the crisis together. In general, the goal of the G20 is to achieve strong, sustainable, balanced and inclusive global growth.
The G20 members are currently represented by heads of state, ministers and central bank governors. Every year the member countries have the right to become G20. As is happening in Indonesia today.
When will Indonesia become a member of the G20?
THE PRESIDENT IS FOLLOWING THE G20 Summit VIRTUALLY (BETWEEN PHOTO / HO / Press Bureau of the Presidential Secretariat / Muchlis Jr / sgd / aww.)
Indonesia was founded in 1999 and is the only country in Southeast Asia to be a member of the G20. Over time, this forum has become a forum for heads of state and government to meet.
Launch of the official G20 website, namely g20.org, The G20 was then founded in 1999 with the participation of middle-income countries and systemic influence on the global economy, including Indonesia. At that time, the forum discussed political measures to achieve international financial stability.
After the 1997-1999 global financial crisis, on the advice of the G7 finance ministers, the G20 finance ministers and central bank governors began to hold meetings to discuss the response to the global financial crisis.
A few years later, on April 14-15. November 2008, the first G20 summit finally took place. After the first summit, the heads of state and government of the G20 member countries agreed on a follow-up meeting. Indonesia now holds the role of the G20 presidency.
List of G20 member countries
Citation page sherpag20indonesia.ekon.go.id, below is a list of the G20 member countries:
- South Africa.
- United States of America.
- Saudi Arabia.
- Republic of South Korea.
- European Union.
Group of twenty or G20 is a strategic multilateral forum that connects industrialized and developing countries around the world. This forum will have a positive impact and benefit for each of its member countries.
“Beer maven. Creator. Tv fanatic. Internet scholar. Award-winning web junkie. Avid alcohol expert. Friendly writer. Gamer.”