On behalf of His Royal Highness Prince Mohammed bin Salman bin Abdulaziz Al Saud, Crown Prince and Prime Minister, His Highness Prince Faisal bin Farhan bin Abdullah, Minister of Foreign Affairs, headed the Kingdom of Saudi Arabia’s delegation participating in the G20 Leaders’ Summit. This high-level participation reflects the pivotal role the Kingdom plays as one of the world’s largest economies and an active and influential member of the group.
The official delegation accompanying His Highness the Minister of Foreign Affairs included His Excellency the Minister of Finance, Mr. Mohammed bin Abdullah Al-Jadaan, and His Excellency the Deputy Minister of Finance, Mr. Abdulmohsen bin Saad Al-Khalaf, which confirms the importance that the Kingdom attaches to the economic and financial files that top the summit’s agenda.
General context and historical background of the G20
The G20 was established in 1999 as a forum for finance ministers and central bank governors to discuss policies related to promoting international financial stability. Following the 2008 global financial crisis, participation was elevated to include heads of state, making it the premier forum for global economic cooperation. The group comprises 19 countries, the European Union, and the African Union, collectively representing approximately 85% of global GDP, 75% of international trade, and two-thirds of the world's population, thus giving its decisions and recommendations significant international weight.
The importance of the event and the Kingdom's pivotal role
Saudi Arabia’s participation in the G20 summits is of paramount strategic importance, given its status as the only Arab member of the group. The Kingdom leverages this global platform to present its vision on pressing economic issues, including energy market stability, food security, the transition to clean energy, and sustainable development. This participation also aligns with the implementation of Saudi Vision 2030, which aims to diversify the Saudi economy and enhance its position as a global investment powerhouse.
The Kingdom demonstrated its ability to lead global dialogue when it successfully hosted the G20 Summit in Riyadh in 2020, which focused on “Realizing Opportunities of the 21st Century for All.” During the summit, the Kingdom launched historic initiatives to address the repercussions of the COVID-19 pandemic and support developing economies. Saudi Arabia’s active participation in these summits underscores its commitment to multilateralism and its contribution to finding solutions to global challenges, serving its national interests and promoting stability and prosperity at both the regional and international levels.
