On Sunday, the G20 Presidency was assumed by the Kingdom of Saudi Arabia. Previously under Japan, this marks the first time the forum has been brought to the Middle East ever since the summit was launched in 2008.
Marking the event, Saudi Arabia put forward an updated logo the presidency, as it approaches the Leaders’ Summit set to take place in Riyadh on the 21st and 22nd of November of 2020.
The Crown Prince, Deputy Prime Minister and Minister of Defense, Prince Mohammed bin Salman bin Abdulaziz Al Saud, praised the efforts of this year’s Japanese presidency. He stated that the Saudi G20 Presidency is dedicated to carrying on the work from Osaka and encouraging multilateral agreements. He said that they are focused on providing effective measures and acknowledging the opportunities to allow them to face, head first, the hardships of the future, while working alongside their G20 associates.
The Crown Prince said: "The Kingdom of Saudi Arabia is at the crossroads of three continents – Asia, Africa, and Europe. In hosting the G20, the Kingdom will have an important role to play by sharing the perspective of the Middle East and North Africa region. We believe this will be a unique opportunity to shape consensus on international issues as we welcome the world to the Kingdom."
Following the 2008 global financial crisis, the forum was formed from the G7 and G8. It held its inaugural summit in the same year in Washington DC. The form consists of central bank governors, finance ministers, and policymakers, who get together to talk about the economic issues around the globe.
Attending the forum, are the 19 greatest economies around the globe and the EU.
The coming year’s G20 will be themed: “Realising opportunities of the 21st Century for all.”
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