Saudi Arabia spearheads economic opportunity at G20 2020

by **claud39** Mon Dec 02, 2019 7:46 am

Saudi Arabia has officially assumed the chairmanship of the G20, which will run until the end of November 2020, until the leaders' summit in Riyadh on November 21-22.

In hosting the G20 summit, entitled 'Seizing the Opportunities of the 21st Century for All', Saudi Arabia is striving to be the key to complex economic and development solutions, as Saudi Arabia emphasizes that it has the opportunity to demonstrate its ability to lead the ambitious global agenda to deliver sustainable economic policies to deal with Those developments, and solutions to the pressing issues of the twenty-first century.
Saudi Arabia, under the chairmanship of the G20, intervenes in the challenge of thorny issues, especially economic ones. Emerging.

Saudi Crown Prince Mohammed bin Salman said yesterday that Saudi Arabia, through its chairmanship of the G20, is committed to continuing the work launched from Osaka, promoting global consensus, and striving in cooperation with its partners to achieve tangible achievements and seize opportunities to meet future challenges.
“By hosting the G20, Saudi Arabia will have an important role to play in highlighting the MENA perspective. We believe this is a unique opportunity to forge a global consensus on international issues when we host countries in the Kingdom. '

In his speech, the Crown Prince pointed out that Saudi Arabia's focus will emerge through: 'seizing the opportunities of the twenty-first century for all', including three main axes: Empowering man by creating conditions that enable all individuals, especially women and youth, to live, work and prosper, as well as Preserving the planet by enhancing collaborative efforts in food, water, climate, energy and environment security, as well as shaping new horizons by adopting bold long-term strategies to share the benefits of innovation and technological progress.

It was decided that there would be two main tracks. The first is the financial track, which focuses on economic and financial issues, including global growth and the resilience of the global financial system.

The second track focuses on social and development issues, including climate change, energy, anti-corruption, agriculture, environment, trade, investment, digital economy, education, tourism, development, labor and health.

According to reports published by the G20 website during the past months, the importance of taking into account new developments in the economy, such as innovations and new industries, and their links with different technologies, and even other developmental issues, such as the environment, health, women and education, are strongly related to developments in the technical scene.

The discussion of taxation and finance, and how to respond to the detailed changes in the structure of the economy with the current developments, especially with regard to digitization, globalization, innovations, the fourth industrial revolution, industrial intelligence, the Internet of things, robotics services and big data, will be under the umbrella of the permanent discussion to develop clear frameworks to discuss how to harness it. In the development of the global economy, and to achieve sound sustainable growth for all peoples of the world.

http://www.uabonline.org/en/news/arabicnews/15751604158715931608158316101577157816021608158316/70395/1

by **claud39** Mon Dec 02, 2019 7:49 am

G20 Summit in Riyadh ... Keys to Solutions for Complex Economic Development

Saudi Arabia spearheads economic opportunity at G20 2020 Rc_157526989291_23

Saudi Arabia spearheads economic opportunity at G20 2020 Rc_157526989291_23

Saudi Arabia has officially assumed the presidency of the Group of 20 to be the focus of world attention and international decision at a time of increasing international economic pressures due to natural and new developments, which have left crises, complexities and tensions escalating, intertwining in their interventions to form new obstacles in the global economic growth.

In hosting the G20 Summit, entitled “Seizing the Opportunities of the 21st Century for All”, Saudi Arabia is striving to be the key to complex economic and developmental solutions, as Saudi Arabia emphasizes that it has the opportunity to demonstrate its ability to lead the ambitious global agenda to deliver sustainable economic policies to deal with Those developments, and solutions to the pressing issues of the twenty-first century.

Saudi Arabia believes that international cooperation is an urgent necessity to inspire the world in the face of common challenges, create opportunities for human empowerment, pave the way for a better future, enact sustainable economic policies that protect the world, and proceed according to an ambitious long-term vision to make the most of the current wave of innovation to form a new horizon.

More details in Asharq Al-Awsat report to highlight three patterns in the economic challenges ahead, to develop key solutions in hosting Riyadh for the most important global event throughout 2020:
Saudi Arabia Leader

The inclusion of Saudi Arabia in the crucible of the G-20 was not in vain, or by virtue of its position in the oil industry, but rather falls into the classification of fallacies, as the Kingdom came among the G-20 following the development of economic and political development, which has intensified for decades to form an effective system in 3 dimensions, the region Arab and Islamic reliability and economic presence, making it an important reference in terms of impact and influence in the global scene.

The economic aspect is certainly the cornerstone of Saudi Arabia's accession to the G-20, but it is certainly not the only one. It is a secure energy industry pack, an approved platform in terms of its position for world trade, and a difficult figure in the OPEC system.

All these factors have made the leading Saudi Arabia an active member of the world's largest economies and the most influential countries in international politics. Today, Saudi Arabia holds the presidency of the group, representing the Arab and Islamic worlds, in such a responsibility at a forum of the world's leading economies since its first participation in 2008. The G20 countries are made up of 19 countries, as well as the European Union.

Responsibility commenced

The Saudi presidency began in practice this month and will continue until the Leaders' Summit in Riyadh on November 21 and 22, 2020. Here, Saudi Arabia confirmed its continued support for the group's efforts to achieve global cooperation.

Saudi Crown Prince Mohammed bin Salman said yesterday that Saudi Arabia, through its chairmanship of the G20, is committed to continuing the work launched from Osaka, promoting global consensus, and striving in cooperation with its partners to achieve tangible achievements and seize opportunities to meet future challenges.
“By hosting the G20, Saudi Arabia will have an important role to play in bringing the MENA perspective to the forefront. We believe this is a unique opportunity to forge a global consensus on international issues when we host the world in the Kingdom. ”

The three themes

In his speech, the Crown Prince pointed out that Saudi Arabia's focus will emerge through: “Seizing the opportunities of the 21st century for all”, which includes three main axes: Empowering man by creating conditions that enable all individuals, especially women and youth, to live, work and prosper. Preserving the planet by enhancing collaborative efforts in food, water, climate, energy and environment security, as well as shaping new horizons by adopting bold long-term strategies to share the benefits of innovation and technological progress.

Global conglomerates

Saudi Arabia has extended invitations to the Hashemite Kingdom of Jordan, the Republic of Singapore, the Kingdom of Spain and the Federal Republic of Switzerland, as well as to regional organizations, including: Arab Bank, the Islamic Development Bank, the Socialist Republic of Vietnam as Chairman of the Association of Southeast Asian Nations, the Republic of South Africa as President of the African Union, the United Arab Emirates as Chairman of the Gulf Cooperation Council; Republic of Senegal as Chair of the New Partnership for Africa's Development.

It will also invite international organizations that have historically made significant contributions to the G20, which include FAO, the Financial Stability Board, the International Labor Organization, the International Monetary Fund, the Organization for Economic Cooperation and Development, the United Nations, the World Bank Group and the World Health Organization. Global, World Trade Organization.

It is clear that this global conglomerates and umbrellas have a wide impact on the totals of countries and systems that fall under their recognition, which enhances the motivation of Saudi Arabia to convergence of views, and push to the intersection of tasks and targets to produce key results leading to further development and economic development in the world.

Capital meetings

The Saudi capital, Riyadh, will face a spectacular spectacle of gathering of global meetings and conferences during the year it hosted the presidency of the G-20.It is expected to be held before the summit of the leaders of the G-20, meetings and conferences, including ministerial meetings and meetings of officials and representatives of communication groups.

The working groups are based on 8 groups: Business Group (B20), Youth Group (Y20), Worker Group (L20), Thought Group (T20), Civil Society Group (C20), Women Group (W20) and Science Group. (S20) and Urban Community Group (U20).

It was decided that there would be two main tracks. The first is the financial track, which focuses on economic and financial issues, including global growth and the resilience of the global financial system.

The second track focuses on social and development issues, including climate change, energy, anti-corruption, agriculture, environment, trade, investment, digital economy, education, tourism, development, labor and health.

Barbed files
and enter Saudi Arabia, under the chairmanship of the Group of Twenty, in challenging the thorny issues, especially the economic ones, as the world is damage to a number of difficulties associated with the development, can be summed up in three forms: the first of which related to global macroeconomic and second patterns is the political tension before the third is Linked to emerging economies.

The G20 meetings represent an international economic forum for countries with economies accounting for 80 per cent of global GDP, 75 per cent of world trade and 65 per cent of the world's population.

Global growth, as a significant slowdown, is an obstacle to overall economic recovery. Global economic organizations, such as the International Monetary Fund (IMF) and the World Bank, point to declining growth rates for the global economy and even record a decline in most of the economies that are likely to raise their growth index. Global.

Not only economic growth, but also global aggregate demand, many of the indicators of the trade movement recorded a decline in transactions, prompting international organizations to demand stagnation in the file of global trade, especially in terms of access to new markets and remote areas of the world.

Not far from global trade, the second type of economic challenge that is related to the current political problems is that it is one of the reasons for the decline of world trade, as is the case with the United States with many countries, including Mexico and China, despite the recent palliative solutions. .

While the establishment of the G20 was originally a response to the global financial crisis, there is still flexible talk about the financial file, the importance of public control of the behaviors of the financial industry, and the creation of a stimulating environment, while necessarily not being in the scene of successive financial meltdowns and monetary crises. Following the pursuit of many countries and global markets, making the forum hosted by Saudi Arabia for one year among the demands of the world to find safe paths for efficient financial investment.

Innovative Economy

The third expectation that Riyadh is expected to initiate solutions is the dossier of the innovative economy, that is, an economy based on the latest developments and new technology, as it remains an obsession for the global economy, because of its important linkages and overlaps in the arteries of pumping liquidity, financing and support to governments and countries.

According to reports published by the G20 website during the past months, the importance of taking into account new developments in the economy, such as innovations and new industries, and their links with different technologies, and even other developmental issues, such as the environment, health, women and education, are strongly related to developments in the technical scene.

The discussion of taxation and finance, and how to respond to the detailed changes in the structure of the economy with the current developments, especially with regard to digitization, globalization, innovations, the Fourth Industrial Revolution, industrial intelligence, the Internet of Things, robotics services and big data; In the development of the global economy, and to achieve sound sustainable growth for all peoples of the world.

http://www.uabonline.org/en/news/arabicnews/16021605157715751604159315881585161016061601161015/70386/0