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COORDINATING MINISTRY OF ECONOMIC AFFAIRS
REPUBLIC OF INDONESIA

PRESS CONFERENCE
HM.4.6/161/SET.M.EKON.3/05/2023

G7 Summit in Hiroshima: Coordinating Minister of Airlangga Accompanies President Joko Widodo in Bilateral Meetings with Canadian Prime Ministers, Brazilian Presidents, Cook Islands Prime Ministers and IMF Managing Director

Hiroshima, May 20, 2023

During the second day of the G7 summit in Hiroshima, Japan, President Joko Widodo held several bilateral meetings with international partners. At the Rihga Royal Hotel Hiroshima, the Coordinating Minister for Economic Affairs, Airlangga Hartarto, accompanied President Joko Widodo in a bilateral meeting with the Prime Minister of Canada, the President of Brazil, the Prime Minister of the Cook Islands and the Chief Executive of the IMF. .

President Joko Widodo and Prime Minister Justin Trudeau had a meeting after returning from activities at the Grand Prince Hotel, Hiroshima. Cooperation between Indonesia and Canada should be strengthened given the huge potential for cooperation that can be realized on the investment and trade side. Indonesia and Canada are working to resolve Comprehensive Economic Partnership Agreement between Indonesia and Canada (ICA-CEPA) which completed its fourth cycle in February 2023. President Joko Widodo also encouraged the realization of investments from the Canadian Pension Fund focused on the development of the capital of the archipelago and appreciated the support of Canada and other countries of the G7 regarding the energy transition in Indonesia. The PM of Canada also expressed Canada’s desire to be able to join the IPEF (Indo-Pacific Economic Framework for Prosperity).

Meanwhile, Brazil, Indonesia and India are troika members within the G20 leadership. During a meeting with the President of Brazil, Lula da Silva, President Joko Widodo expressed his gratitude for the support that Brazil has also given to Indonesia’s G20 Presidency. Indonesia and Brazil have established cooperation in agriculture and trade. This cooperation is increasingly strategic in the midst of the global food crisis that will arise in 2022. In addition, it has also been agreed that imports of beef and beef cattle from Brazil will be discussed more technically. Apart from this, partnerships in the forestry sector are also encouraged as Indonesia and Brazil are two countries that have quite significant tropical forests, especially by encouraging the commitment of developed countries to provide funds for climate change. In addition, he also discussed cooperation plans regarding tropical forests between Indonesia, Brazil and Congo. On this occasion, President Lula hoped that President Joko Widodo could pay a visit to Brazil.

The bilateral meeting between Indonesia and the Cook Islands was the first meeting for President Joko Widodo and Prime Minister Mark Brown, since the two countries had bilateral relations in 2019. Partnership between Indonesia and the Cook Islands as president Pacific Islands Forum (PIF) continues Indonesia’s strategic partnership with countries in the Pacific region, which was previously established by inviting PIF representatives to Indonesia’s G20 Presidency. At an advanced level, Indonesia is developing a roadmap for development cooperation in the Pacific as part of the follow-up Indonesia – Pacific Development Forum (IPFD).

The bilateral meeting with IMF Managing Director Kristalina Georgieva brought up many positive achievements of Indonesia’s economic performance and appreciated Indonesia’s economic growth and inflation control. At the IMF World Economic Outlook in April 2023, the IMF revised Indonesia’s economic growth for 2023 upwards from 4.8% to 5.0% (up 0.2pp), and the outlook for the Indonesian economy in 2024 are pretty good, at around 5.1%. This is inseparable from Indonesia’s economic policies, which the IMF regards as sound, forward-looking and well-coordinated measures. These conditions must be maintained and improved to achieve the goal of becoming High-income countries before 2045. Indonesia continues to push for various strategic policies to take advantage of demographic bonus opportunities such as investment efficiency related to effective and efficient use of capital, increased productivity through improving the quality of education, health and the workforce, using strategies for food security, energy and a green economy. (dep7/dft/fsr)

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