Opportunities in the creative economy to foster growth and provide solutions to a myriad of challenges were central to discussions on the sidelines of the inaugural World Conference on Creative Economy in Nusa Dua, Bali, on Tuesday. (JG Photo/Sheany)

Creative Economy Can Help to Address Global Challenges, Bekraf Says

BY :SHEANY

NOVEMBER 06, 2018

Nusa Dua. Opportunities in the creative economy to foster growth and provide solutions to a myriad of challenges were central to discussions on the sidelines of the inaugural World Conference on Creative Economy in Nusa Dua, Bali, on Tuesday, as Indonesia seeks to strengthen international collaboration to facilitate the industry's success.

Endah Sulistianti, deputy for inter-agency and regional relations at the Creative Economy Agency (Bekraf), emphasized the growing importance of the creative economy, which contributes to gross domestic product, creates job opportunities and helps close the wealth gap in many countries.

"The creative economy has the potential to address not only economic challenges, but also social and security challenges," Endah said during the first meeting of the Friends of Creative Economy, or FCE.

She added that the industry was a "new prospective engine" of economic growth and could offer equitable income distribution to address inequality and therefore help maintain security and stability.

Government officials, academics and representatives of various international organizations and the private sector attended the FCE meeting, in which the value of inclusiveness in fostering the industry's growth was emphasized.

"Inclusive, because the creative economy provides equal economic opportunity for everyone with creative minds," Bekraf deputy chief Ricky Pesik said in his keynote address.

He added that it was therefore critical to tackle challenges associated with the opportunities offered by the creative economy, as the world faces depleting natural resources and starts to move away from a commodity-dependent to an ideas-dependent economy.

The creative economy has been on the rise in Indonesia over the past few years, contributing more than Rp 922.6 trillion ($62 billion), or around 7.4 percent of the country's economy, in 2016.

As host and initiator of the first international conference on the creative economy, Indonesia also believes the industry can contribute to achieving the 2030 Agenda for Sustainable Development.

About 1,500 participants from 30 countries are expected to attend this week's World Conference on Creative Economy, which will serve as a forum for government representatives and industry players to exchange ideas and establish a common understanding to develop the global creative economy.

Participants will discuss the possibility to establish a global center of excellence for the creative economy.

Indonesia has repeatedly emphasized the role of collaboration in such a development.

"The creative economy provides more than just economic opportunities. It can serve as a bridge of communication, understanding and trust between countries and cultures in a world that looks increasingly fragmented," Ricky said.

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