Saudi G20 presidency to focus on global challenges

Riyadh: Saudi Arabia, which has this week taken over the presidency of the Group of 20 (G20), is working on an “integrated” agenda for hosting the bloc’s summit next year, the kingdom’s Foreign Minister Prince Faisal Bin Farhan Al Saud has said.

Heads of state of the world’s top developed and emerging economies are due to gather in the Saudi capital Riyadh next November for their summit, the first of its kind in the Arab region.

“The next session of the group in Saudi Arabia will focus on tackling the 21st century challenges facing the global economy as well as enhancing international cooperation and coordination based on principles and joint interests,” the official told Saudi newspaper Asharq Al Awsat in remarks published on Sunday.

High on the agenda will also be efforts to creating economic opportunities, boosting creativity and preserving the Earth’s sustainability, Prince Faisal added.

The Saudi minister was this week in the Japanese city of Nagoya where he attended the G20 foreign ministers’ meeting and received the group’s helm from Japan.

In the run-up to the Riyadh summit, Saudi Arabia will host over 100 multi-level meetings, according to the minister. “These meetings will be diverse in their topics and support the fulfilment of the G20 objectives,” he added.

G20 countries make up about two-thirds of the global population, 85 per cent of its gross domestic product and over 75 per cent of trade.

The G20 grouping is also represented by the US and UK, four of the leading economies in the EU, China, Japan, India, South Korea, Argentina, Australia, Brazil, Canada, Indonesia, Mexico, Russia, South Africa and Turkey.