The effect of the pandemic has brought inequality in the economic recovery to several sectors including the MSME sector, and support for MSMEs is one of the main agendas during the G20 Finance Track agenda.
During the 3rd Financial Ministers and Central Bank Governors Meeting (FMCBG) series of events on July 11-17 in Bali, the G20 Indonesia Presidency also invited delegates to explore more about the diversity of the archipelago’s cultural heritage through curated MSME products which can be visited in Taman Jepun, Bali Nusa Dua Convention Centre. Today, Minister of Finance, Sri Mulyani directly inspected the atmosphere and major MSME products on display there.
The MSME’s exhibition carries the theme of Nusantara, symbolizing the diversity of Indonesian culture from Sabang to Merauke with the nuances of a traditional Balinese arrangement in the style of Panglipuran Village. In each of their art crafts, MSME players are creative and take inspiration from Indonesia’s rich cultural values, and are stealing the spotlight.
The spirit of Indonesia’s cultural diversity has also become a symbol that represents the character of multilateralism built in the G20 forum as it is the history of the formation of the forum. The spirit of multilateralism is also the basis for the G20 forum to build an effective dialogue in order to handle various world problems.
This event exhibits 52-MSMEs, of which 17-MSMEs are aided by the Minister of Finance, Public Service Agency (BLU), five Special Mission Vehicle (SMV) units, and local governments. Various products from traditional fabric/ wastra, crafts, food, and beverages like coffee and tea from regions in Indonesia. Collaborative and aided programs and the presence of MSMEs in the whole series of G20 Presidency of Indonesia meetings in 2022 is a form of the Ministry of Finance’s support for MSMEs in increasing production efficiency, access to the global market, ease in business, financing, financial literacy, and optimal and sustainable marketing platform.
In Indonesia, MSMEs play a big role in driving an inclusive economy, contributing 61.1-percent of the nation’s GDP. MSMEs also contribute to 14.7-percent of exports and 97-percent of employment across the archipelago.