Indonesia has hailed the decision of the G-20 nations to make their group a permanent one to replace the G-8 as a global forum for economic cooperation. Indonesian President Susilo Bambang Yudhoyono said in a press conference with Indonesian journalists at the Hotel Westin here Friday evening the decision would put Indonesia in a “very strategic” position with regard to determining the direction of the global economy.

“It is in line with what Indonesia has been hoping for. G-20 will become a permanent body and this is good. The G-7 or G-8 only represents developed countries, mostly European countries, and only one Asian country is represented in it, namely Japan,” he said.

G-20, he said, represents countries in the world in a better way because it includes both developed and developing countries.

The presence of the permanent G-20 group of countries would make the world`s civilization complete covering Western, Eastern and Islamic civilizations.

“I think this forum will later not only think about the global economy but also become a forum to make the world safer, eliminate conflicts and violence, and create more harmonious relationship among civilizations,” he said.

He said he had conveyed various views at the G-20 sessions held on September 24-25. All the sessions were held behind closed doors so that journalists could not cover them directly.

At the meeting with his counterparts, including US President Barack Obama, Yudhoyono said, he had suggested evaluating all recovery efforts at global, regional as well as national levels.

He said the evaluation was needed particularly regarding market confidence, capital flows, investment and trade, real economy, food stability and energy.

“If all indications are positive we could say that the recession has reached its final stage and then we can immediately formulate an exit strategy,” he said.

The leaders of the G-20 countries also had agreed to continue to work hard to make the global economy healthier and to ensure that the global economy would grow stronger, more balanced and more sustainable in the future.

The G-20 members include South Africa, the US, Saudi Arabia, Argentina, Australia, Brazil, China, India, Indonesia, Britain, Italy, Japan, Germany, Canada, South Korea, Mexico, France, Russia, Turkey and the European Union.

Source : Antara.