"An inclusive economy, the expansion of digitalization, and a sustainable economy are very relevant to overcome the challenges posed by the COVID-19 pandemic," said Deputy Foreign Minister Mahendra Siregar in the General Debate session of the 15th United Nations Conference on Ministerial Level (KTM). Trade Development (UNCTAD). The 15th KTM UNCTAD 4-7 October 2021 took place in a hybrid manner with limited physical meeting locations in Geneva, Switzerland and Bridgetown, Barbados. The activity carried the theme "From Inequality and Vulnerability to Prosperity for All" and was attended by 195 UNCTAD member countries.
In this general debate session, Indonesia, represented by the Deputy Minister of Foreign Affairs of the Republic of Indonesia, invited all members of UNCTAD to direct attention to 3 (three) main elements to overcome the impact of COVID-19. "First, inclusive economic development by developing a creative economy," said the Deputy Minister of Foreign Affairs. Creative economic development can help countries to diversify their economy and also help the process of economic transformation of countries.
MSMEs, women and youth must be empowered to maximize the benefits of the opportunities created by the creative economy. This coincides with the momentum of 2021 which is designated as the International Year of the Creative Economy for Sustainable Development (Res/A/74/198).
"Second, providing support for the expansion of digitalization," said the Deputy Minister of Foreign Affairs. From this pandemic, one of the valuable lessons that can be learned is that business activities can survive economic downturns if they can adapt and use the digital economy as a means of marketing products and expanding consumer reach. Therefore, special attention is needed to bridge the digital balance between countries and regions within a country with affordable prices and access to reliable digital infrastructure, especially in developing countries.
"Third, the transition to a sustainable economy," continued the Deputy Minister of Foreign Affairs. The government needs to strengthen trade and investment policies to contribute to the achievement of the climate and environmental goals of the 2030 Agenda, and emphasize more concrete and coordinated actions, in accordance with the principle of Common but Differentiated Responsibilities (CBDR) and the capabilities of each country. The Vice Minister of Foreign Affairs underlined that, "It is important to build trust to ensure that environmental issues are not used as a trade barrier." In addition, the Deputy Minister of Foreign Affairs also emphasized that a sustainable economy will not be achieved when countries struggle to repay their debts increased due to the pandemic.
"UNCTAD support for developing countries is absolutely necessary, let's work together so that the results of the 15th UNCTAD meeting can help its members create a more inclusive, resilient, and sustainable world for a shared future," concluded the Deputy Minister of Foreign Affairs. followed by the Ministerial Round Table activities from 6 to 7 October 2021 with the main topics of Scaling up financing for development; Reshaping global and regional value chains; Regional integration for a resilient, inclusive and sustainable future; Harnessing frontier technologies for shared prosperity; Supporting productive transformation for greater resilience in a post-pandemic world.
