G20 summit: Hosting the big event indicates Saudi Arabia’s importance global leadership

Saudi Arabia’s Investment Minister Eng. Khalid bin Abdulaziz Al-Falih has affirmed that the Kingdom’s hosting of the G20 Leaders’ Summit is a firm indication of the importance of the Kingdom’s global leadership roles.

The Minister explained that the Kingdom’s efforts to enhance cooperation in trade and investment policies included supporting the multilateral trading system and promoting economic diversification and cross-border investment flows.

The Minister pointed out in a statement that the G20 Trade and Investment Working Group addressed urgent global trade issues, including the launch of the Riyadh Initiative on the future of the World Trade Organization (WTO).

“The working group ended many measures restricting global trade and adopted measures to support international trade and investment in response to the Coronavirus pandemic,” Al-Falih added.

“The group’s countries have allocated $11 trillion to protect and support the global economy from the effects of the Coronavirus pandemic,” the Investment Minister said.

He also pointed to the historical initiative to suspend debt payments of 73 countries in the world, worth 14 billion US dollars.

Al-Falih concluded his statement by congratulating the Custodian of the Two Holy Mosques King Salman bin Abdulaziz Al Saud and HRH Crown Prince, on the Kingdom’s success in hosting and presiding over many meetings and events during this year, stressing that hosting the G20 leader’s summit reflects the Kingdom’s stature and weight at the regional and global levels.