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Indonesia calls for Russian, Ukrainian goods reintegration in global market
Statistics Indonesia (BPS) recorded in the country that wheat prices have increased 75.71 percent year-on-year (yoy) and overall food and beverage prices have increased 8.26 percent.
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Deputy Foreign Minister Mahendra Siregar spoke to foreign representatives during the G20 Second Trade, Investment and Industry Working Group meeting in Surakarta, Central Java, on July 7. (The Jakarta Post/Fadhil Haidar Sulaeman)
The Indonesian government has asked members of the Group of 20 to reintegrate both Russian and Ukrainian exports into the global market amid worsening global food and energy crises caused by the war and subsequent sanctions slapped on Russia.
Indonesia, as the host of the G20 this year, has opened another round of ministerial meetings under the economic forum, with a message that restoring the goods of the two countries would help reduce inflation and foster economic growth.
While giving a speech at the Second G20 Trade, Investment and Industry Working Group (TIIWG) meeting in Surakarta, Central Java, on Wednesday, Deputy Foreign Minister Mahendra Siregar said that geopolitical circumstances had borne the fruit of skyrocketing commodity prices.
Ever since the war in Ukraine started in February, the United States and its allies have been imposing economic sanctions on Russia as a means to grind the latter's war capabilities down, including trade restrictions on goods and services that are influenced by Russian President Vladimir Putin’s oligarchs.
"While we all hope for an end to this conflict, we must, in the meantime, strive to mitigate the energy and food crisis that is affecting all nations through the reintegration of both countries' commodities to global markets. Despite the war," said Mahendra in front of delegates from the G20 members, including Daria Vesnina, the head of Russia’s delegation in the working group.
Read also: Russia ready to fulfill Indonesia’s demand for fertilizers
The Surakarta meeting began just days after the G7 forum held in Berlin, which was attended by President Joko “Jokowi” Widodo. After attending the forum, the President continued his trip to visit Ukraine President Volodymyr Zelensky in Kyiv and Russia President Vladimir Putin in Moscow.
