On behalf of His Royal Highness Crown Prince Mohammed bin Salman bin Abdulaziz Al Saud, Prime Minister, His Highness Prince Faisal bin Farhan bin Abdullah, Minister of Foreign Affairs, arrived today in Johannesburg, South Africa, to head the Kingdom of Saudi Arabia's delegation participating in the G20 Leaders' Summit. The official delegation includes His Excellency Mohammed bin Abdullah Al-Jadaan, Minister of Finance, and His Excellency Abdulmohsen bin Saad Al-Khalaf, Deputy Minister of Finance and Saudi Sherpa, along with a number of senior officials.
The G20 is the premier forum for international economic cooperation. Founded in 1999 in the wake of the Asian financial crisis, it initially brought together finance ministers and central bank governors. With the escalation of the global financial crisis in 2008, participation was elevated to heads of state. The group comprises 19 countries, the African Union, and the European Union, whose combined economies represent approximately 85% of global GDP, over 75% of world trade, and nearly two-thirds of the world's population, giving its decisions considerable weight on the international stage.
The participation of the Kingdom of Saudi Arabia, as the only Arab member of the group, is of paramount strategic importance. It not only represents its economic weight as the world’s largest oil producer, but also reflects its pivotal role in stabilizing global energy markets and its relentless efforts to diversify its national economy through Vision 2030. The Kingdom demonstrated its ability to lead global dialogue when it successfully hosted the group’s summit in 2020, which focused on addressing the repercussions of the COVID-19 pandemic and uniting international efforts to achieve a comprehensive and sustainable economic recovery.
The current summit in Johannesburg is set to address the most pressing challenges facing the global economy, including slowing growth, inflation, and energy and food security. Discussions will also focus on the need to strengthen multilateral dialogue and cooperation to address urgent global issues such as geopolitical crises, sustainable economic development, debt relief for developing countries, and climate change. In this context, the Kingdom will highlight its ambitious initiatives, such as the "Green Saudi Arabia" and "Green Middle East" initiatives, emphasizing the importance of adopting a balanced approach to the clean energy transition that considers both energy security and economic development.
The participation of the high-level Saudi delegation in this summit reflects the Kingdom's unwavering commitment to working with its international partners to find effective and sustainable solutions to global challenges. The summit's outcomes are expected to contribute to strengthening global economic stability, supporting development paths in developing countries, and intensifying international efforts to achieve the Sustainable Development Goals, thus serving the interests of all peoples and promoting global security and prosperity.
