BackG20 more important than ever: India, Indonesia to create economic solutions, says industry expert
The G20 is becoming increasingly important for discussing the economic challenges faced by poor countries, said Arsjad Rasjid.
PremiumAs countries attempt to recover from the COVID-19 consequences and deal with the ongoing Russia-Ukraine issue, conferences like the G20 are becoming increasingly important for discussing the economic challenges faced by poor countries, Arsjad Rasjid, Chairman of the Indonesian Chamber of Commerce, has said.
Speaking with ANI, the top Indonesian business and industry expert said, "G20 forum is becoming more and more important, particularly it is talking about the economy. We just passed the process of recovery starting after the pandemic. Now the geopolitical situation in Russia and Ukraine, that ups the challenges that the global economy is facing."
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Including developing countries in the creation of policy at large international fora will be crucial to tackling the problems these countries face, according to Rasjid. It's also significant for India and Indonesia that Jakarta now sees Asia as the region with the fastest economic growth. He asserted that the leaders of Indonesia and India may propose or create economic solutions.
These are crucial conversations to have given the high rate of inflation, the high cost of energy, and the scarcity of food. A collaboration between the public and private sectors is essential, as per the leader.
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The Indonesian businessman thinks it's time to start talking about ways to democratise health care, reduce poverty, and small- to-medium enterprises.As per Rasjid, both nations share a similar history, set of values and culture. The moment has come to improve this connection, he added.
"There is already a conversation on a trade agreement between India and Indonesia. It should be more than that. It should be economic cooperation agreement where we not only talk about trade but investment, education, capital development and technology," Rasjid said.
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The partnership that the two nations have built during the 1950s, throughout the non-alignment era, needs to be strengthened, he said. It's time to make this stronger between Indonesia and India. not just on the G2G level, but also on the B2B and P2P levels, Rasjid added.
(With ANI inputs)
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