Indonesia Hands B20 Presidency to India
Nusa Dua, BTNp:- THE Business 20 (B20) Summit in Bali, Indonesia, has come to an end, with Indonesia handing over the B20 Presidency to India.
The B20 is a global dialogue forum for business leaders and is the business arm of the G20. Over two days, the summit brought together over 3,300 people, including over 2,000 CEOs, business leaders and heads of state, to address key business challenges under the theme ‘Advancing Innovative, Inclusive, and Collaborative Growth’. Combined, these leaders represented over 6.5 million businesses from more than 40 countries.
Chairman of the Indonesian Chamber of Commerce and Industry (KADIN Indonesia), M. Arsjad Rasjid P. M., said “The B20 Summit has brought together global business leaders to advance collaborative action for a more prosperous and inclusive future. Their support in shaping our recommendations to the G20 will make a difference to lives of millions of people. I would also like to offer Indonesia’s best wishes to India as it takes on the B20 Presidency and builds on our efforts to achieve sustainable economic growth.”
The B-20 leadership is committed to ensuring Indonesia’s B-20 Presidency has a lasting impact. This will be achieved in several ways.
Firstly, the B-20 has made 25 policy recommendations for the G-20 to take forward, across priority areas including innovation, empowering MSMEs and vulnerable groups, and collaboration between developed and developing countries. These have been set out in the B-20’s official Communiqué, published today. The Communiqué aims to drive collaborative action and calls on G-20 governments to put forward national policies on these priority areas and foster increased economic growth.
Secondly, the B-20 initiated 4 legacy programs to help address today’s global challenges:
- Carbon Centre of Excellence, a knowledge hub to help companies transition to a low-carbon economy by providing information on carbon trading;
- B-20 Wiki, a platform to scale up the development of next-generation mid-sized companies;
- One Women Global Empowerment, a platform to assist existing women empowerment networks and initiatives to scale and make a bigger impact;
- Global One Shot Campaign, to increase access to vaccines and help consign preventable disease to history.
And thirdly, the B-20 has generated new investment for Indonesia from at least 11 new investments at the B-20 Investment Summit, across key sectors including shipbuilding, aeronautical engineering and defence. Combined, these investments will create new employment opportunities across Indonesia.
The news comes as President Joko Widodo of the Republic of Indonesia launched a $1.4 billion Pandemic Fund to mark the start of the G-20. The fund will assist developing countries in managing and coping with future pandemics and other global health threats.
Guests ranging from President Yoon Suk-yeol of the Republic of Korea, Prime Minister Justin Trudeau of Canada, Prime Minister Anthony Albanese of Australia, CEO Tesla Inc Elon Musk, UN Women Goodwill Ambassador Anne Hathaway, Binance CEO Changpeng Zhao, Executive Chairman of the Tony Blair Institute for Global Change Tony Blair, and many others also spoke on the final day of the conference.
The B-20 Presidency was supported by prominent Indonesian CEOs who led the preparation of the recommendations to the G-20. It was also guided by a group of international business leaders from top companies in G-20 countries, called the International Advocacy Caucus. The caucus includes leaders such as Michael R. Bloomberg and Brad Smith, and together its members assisted the B20 leadership with its agenda and priorities, providing valuable insight. *BTNewspaper
