President Jokowi Highlights Two Main Sectors to Boost Global Economic Recovery

President Jokowi in his intervention at the APEC Leaders and Invitees Informal Dialogue session, at Queen Sirikit National Convention Center, Bangkok, Thailand, Friday (11/18). (Photo by: BPMI Presidential Secretariat/Laily Rachev)

President Joko “Jokowi” Widodo Friday (11/18) encouraged APEC leaders to prioritize two sectors that can speed up global economy recovery.

“First, we must develop more resilient supply chain. Food and energy supply chains must be maintained and we must support alternative sources, new routes, and logistics hubs by new investments,” President Jokowi said at the APEC Leaders and Invitees Informal Dialogue session in Bangkok, Thailand.

According to President Jokowi, downstreaming industries are the key for developing countries to become part of global supply chain through production of added value commodities, not merely by exporting raw materials.

Infrastructure development is another important factor to support supply chain development. According to the Asian Development Bank, developing countries in Asia need US$1.7 trillion per year to develop infrastructure. “The APEC needs to mobilize infrastructure financing,” he added.

Second, to consider creative industry cooperation as a new source of growth. Citing the UNESCO’s report, President Jokowi said that creative and cultural sectors contributed 3.1 percent to global GDP and 6.2 percent to employment sector.

“Creative economy is the future sector and pillar of inclusive growth for it breaks geographic, gender, ethnic, and economic stratification boundaries and encourages the achievement of the SDGs,” the President said, adding that the APEC must support creative industries, including tourism, through digital transformation and human capital development.

Concluding his intervention, President Jokowi reaffirmed the spirit to collaborate in order to turn the crisis to be a momentum to recover and become stronger.

“In the end, an inclusive, green, and sustainable recovery is our ultimate goal,” the President remarked. (BPMI Presidential Secretariat/AIT) (GWH/MMB)