Economic relations enhancement, trade promotion is the vital part of global diplomacy which is enormously helpful to pave the way for greater cooperation to increase trade volume, create business friendly environment and exploring investment opportunities. The G 20 or group of 20 is an inter-governmental forum comprising nineteen countries and the European Union. It works to address major issues related to global economy, such as international financial stability, climate change and sustainable development. The members of G 20 are 1. Argentina 2. Australia 3. Brazil 4. Canada 5. China 6. France 7. Germany 8. India 9. Indonesia 10. Italy 11. Japan 12. Republic of Korea 13. Mexico 14. Russia 15. Saudi Arabia 16. South Africa 17. Turkiye 18. The United Kingdom 19. The United States of America 20. The European Union
G 20 brings together the world’s major and systematically important economies. Its members represent 85% of global GDP, 75% of International Trade and two-thirds of the world’s population. G 20 is premier forum for international economic cooperation and it plays an important role in shaping and strengthening global architecture and governance on all major international economic issues. The G 20 does not have a permanent secretariat or staff. Instead, G20 presidency rotates annually among the members and is selected from a different regional grouping of countries. The 19 members countries are divided up into five groups.
Group 1. Australia, Canada, Saudi Arabia and USA
Group 2. India, Russia, South Africa and Turkiye
Group 3. Argentina, Brazil, Mexico
Group 4. France, Germany, Italy and UK
Group 5. China, Indonesia, Japan and Republic of Korea
S.No Country Population in Million GDP (PPP) US$ billion GDP (Nominal) US$ Billion
1 Argentina 45.81
2 Australia 26.56 1.718 1,708
3 Brazil 203 4,020 2,081
4 Canada 39.85 2,305 2,090
5 China 1,411.75 33,014 19,373
6 France 68.043 3,872 2,923
7 Germany 84.276 5,317 4,031
8 India 1,417 13,033 3,750
9 Indonesia 277.5 4,398 1,392
10 Italy 58.85 3,195 2,169
11 Japan 124.63 6,500 4,400
12 Mexico 128.65 3,125 1,163
13 Republic of Korea 51.96 2,924 1,721
14 Russia 147.18 4,989 2,063
15 Saudi Arabia 32.175 2,350 1,061
16 South Korea 60.14 1,050 730.91
17 Turkiye 85.27 3,575 1,029
18 The United Kingdom 66.97 3,850 3,160
19 USA 339.99 20,854 26,854
20 European Union 447.71 24,050 17,400
Indonesia had an honour to lead G 20 which was a new era of development and cooperation. On this occasion His Highness Mr. Joko Widodo President of Indonesia said, “As the G 20 Presidency, Indonesia has sought the best solutions during its one year of leadership. Alhamdolillah today we can adopt and ratify the G 20 Bali Leader’s Declaration. This is the first manifestable declaration since February 2022. Indonesia hopes that the G 20 can continue to be a catalyst for inclusive economic recovery. Amid a very difficult situation, the G 20 continues to work to produce concrete achievements, prepare funds to deal with future pandemics through pandemic funds, help low-income countries fiscal space through resilience and sustainability trust, accelerate the achievement of SDGs, produce hundreds of concrete collaborations, and support greener and more sustainable world economic recovery through the Bali Compact on energy transition. We don’t just talk, but we take concrete step.”
The leadership of Indonesia for the world’s one of the most prestigious platform reflects Indonesia’s importance in global economic and political scenario and also exhibits its leadership’s vision and its people’s hard work. On this auspicious occasion Her Excellency Retno LP Marsudi, Minister of Foreign Affairs of the Republic of Indonesia said in a message, “It is an honour to speak to you today about Indonesia’s leadership in a challenging world. As the Minister of Foreign Affairs of Indonesia, I am proud to say that our country has demonstrated exceptional leadership in the International arena, particularly in the areas of global governance and regional cooperation”. She further said, “Indonesia has recently taken on the presidency of the G 20, which is an essential platform for global economic governance. During our presidency, we have focused on addressing the pressing issues of the global economy, such as pandemic recovery, climate change, and sustainable development. We have been actively engaging with other G 20 members and stakeholders to ensure that our collective efforts contribute to a more equitable and inclusive global economy.”
The Indonesian Presidency focused three priority sectors as the key for a strong and sustainable recovery which were: Strengthening of Global Health Architecture and was evident that the global health architecture needed to be strengthened. This was not only to face the pandemic but also to prepare the world to respond better and have the capacity to deal with future health crises. Digital Transformation Digital transformation is one of the key solutions in moving the economy during a pandemic and had become a new source of economic growth. For this reason, the Indonesian presidency will focus on enhancing digital skills and digital literacy to ensure an inclusive digital transformation for all.
It has been decided that the Indonesian Presidency will promote energy transition towards new and sustainable energy by prioritizing energy security, accessibility and affordability. This would ensure a green and sustainable future and manage the climate change issues more effectively. Under the inclusiveness principle, the Indonesian Presidency also invited guests’ countries and International Organizations to participate in the G 20 events. On various occasions, President Joko Widodo emphasized that this inclusiveness is the priority of Indonesia’s leadership in the G 20 presidency that benefits not only the G 20 members but also the developing countries. Small Islands Developing States, and vulnerable groups. As such, Indonesia gives major attention to developing countries in Asia, Africa, and South America, including the small islands nations in the Pacific and Caribbean. In addition to reflecting the spirit of inclusiveness, this also provided a wider opportunities to nine countries which were invited to participate in the Indonesian G 20 presidency, which were Spain, Chair of the African Union, Chair of the African Union Development Agency- NEPAD (AUNEPAD). Chair of the Association of Southeast Asian Nations (ASEAN), Netherlands, Singapore, United Arab Emirates, Chair of the Caribbean Community (CARICOM) and Chair of the pacific Island Forum (PIF).
Ten international organizations were also invited, namely Asian Development Bank (ADB), Financial Stability Board, International Labour Organization (ILO), International Monetary Fund (IMF), Islamic Development Bank (IDB), Organization for Economic Cooperation and Development (OECD), World Bank (WB), World Health Organization (WHO) , World Trade Organization ( WTO) and the United Nations ( UN).
The Indonesian G 20 Presidency had scheduled more than 180 series of main activities, including Engagement Groups meetings, Working groups Ministerial Level meetings, and the Heads of State meetings (Summit) in Bali. The series of activities was carried out in more than twenty cities in Indonesia.
The G 20 Presidency for Indonesia was highly beneficial for Indonesia and it helped to build the stronger image of Indonesia among the global communities and Islamic world. It helped to increase foreign exchange earnings of the country. It is estimated that every G20 Summit generated more than US$ 100 million in revenue for the host country.
G 20 Presidency 2022 and now ASEAN Chairman Ship 2023 for Indonesia lifted the image of Indonesia very high which reflects its global role in economic development, peace, dialogue and harmony and it can be predicted that Inshah Allah Indonesia has a very good future and there would be many more successess for brother country. As a Pakistani and staunch supporter of Indonesia I pray for further success of Indonesia, its people and its leadership.