Riyadh: Saudi Arabia’s Minister of State and Sherpa of Saudi G20, Fahad Almubarak, has said that the kingdom has the ability to execute the full agenda as the G20 presidency in the midst of the COVID-19 pandemic.
Before the G20 Leaders‘ Summit, which will be conducted virtually on November 21 and 22 and led by Saudi King Salman bin Abdulaziz Al Saud, Almubarak told a media briefing in the capital Riyadh that, “We are honored to hold the G20 presidency for this year. We had a very busy year and held over 100 meetings of deputies and ministers.”
The G20 unites some of the biggest economies, which account for around 85 percent of the worldwide GDP, to talk about the most challenging socioeconomic worldwide issues. Saudi Arabia, the single Arab member from the group, took the presidency of the G20 in December 2019.
With huge difficulties presented by the worldwide COVID-19 pandemic this year, the Saudi G20 presidency organized a historic Extraordinary Virtual Leaders’ Summit on COVID-19 on March 26, followed by a progression of ministerial meetings to handle the COVID-19 crisis and lessen its impacts, Xinhua announced.
This remarkable Summit brought about quick and unprecedented actions to protect lives, jobs, and the most vulnerable, including an injection of a total of 11 trillion US dollars into the worldwide economy, as per a G20 statement issued on Monday.
The statement additionally pointed out the 21 billion dollars spent at the outset of the crisis in supporting the health systems and the search for a vaccine, and the 14 billion dollars in debt relief for the world’s most vulnerable countries in a progress to guarantee their ability to focus all resources accessible on battling the pandemic.
The approaching G20 Leaders’ Summit will set the foundations for a more comprehensive, resilient, and sustainable recovery from the COVID-19 crisis, the G20 statement read.
Saudi minister of commerce and acting minister of media said at the media briefing: “2020 is an exceptional year. COVID-19 has taken the world off guard, and the whole world’s economy went into a real pause.”
Under the topic of “Realizing Opportunities of the 21st Century for All,” the current year’s G20 Leaders’ Summit looks to “deepen global cooperation,” a different G20 statement read.
As indicated by the statement, the forthcoming Summit will focus on three significant points: Empowering individuals by making the conditions in which all, particularly women and youth, can live, work and thrive; Protecting the planet by fostering collective efforts to protect natural resources; Shaping new frontiers by adopting long term and bold strategies to share the advantages of innovation and technological progression.
The statement included, “But there is much more to do.”