JAKARTA, Aug. 2 (Xinhua) -- The Resort island of Bali will host Indonesia-initiated World Conference on Creative Economy in November this year with preparatory sessions already underway in the last several months, a statement released by Indonesia Foreign Ministry said here on Thursday.

A preparatory meeting was held in May, attended by foreign representatives of international organizations, private sector, think tank agencies, scientists and economists from foreign countries, to discuss potentialities of creative economy in prompting inclusive economy drive among nations.

The meeting also launched initiatives to boost the creative economy and integrate the new concept into multilateral diplomacy, according to the statement.

To promote the conference, the ministry would team up with National Creative Economy Agency in holding a side-event on creative economy in the upcoming 73rd general assembly session of the United Nations slated for September this year.

"The side-event in UN session was intended to enhance global awareness on the importance to further boost creative economy as essential part to propel economy in the world. The event was also expected to incite mainstreaming of creative economy drive in multilateral relations," the statement said.

Global creative goods and services business has grown 134 percent from 2003 to 2011, according to the United Nations Conference on Trade and Development (UNCTAD).

Indonesia has posted 7.3 percent of creative industry contribution to the nation's Gross Domestic Products (GDP), expecting to boost it further to 20 percent with emphasized business on digital economy, fashion, handicrafts and movie making sectors.