The “Riyadh Summit” is a Global Achievement That Embodies The Kingdom’s Strength and Global Leadership

SCBC Team – Riyadh
The leadership of the Kingdom of Saudi Arabia for the (G20 Summit in Riyadh 2020) painted the dawn of a new era of Saudi prosperity and power, which continues to make glory every day with remarkable achievements of reform and growth, and the creation of opportunities in a short period of time, the Kingdom’s ability to shorten time with the genius of its place and the glory of its people, And it dazzles the world with its unprecedented race with development and leadership that put the country in its rightful place among nations to enrich its present and take confident and leapfrog steps towards its future prospects.

The Kingdom’s presence as a sole Arab member of the Global G20 (G20), and then its leadership of the Riyadh Summit 2020 as the first summit of the group hosted by an Arab country, and its second summit in the Middle East, has given great importance to the Kingdom in particular and to the Arab world in general for the benefit of its interests and issues, as this global group constitutes As the largest global economic platform, consisting of 19 countries in addition to the Presidency of the European Union, and being managing the global economy; Where it constitutes 80% of the global economic output, two-thirds of the world population and three quarters of global trade, and the GDP of the group countries (excluding the European Union) is about $ 66.2 trillion, or 75% of the global economy.

The confidence of the world’s poles in Saudi Arabia’s leadership of the G20 summit was established, after what it witnessed from the qualitative leap in the prosperous era of the Custodian of the Two Holy Mosques King Salman bin Abdulaziz, and His Royal Highness Prince Muhammad bin Salman, Deputy Prime Minister and Minister of Defense; Where the Kingdom succeeded in achieving the largest contemporary national transformation that deserved it to be the first growth model in the Middle East and the world with a development miracle that embraced heritage and identity and proved its development and global competence, and achieved the best exploitation of the Kingdom’s resources and capabilities that made it the giant of the Middle East and the ninth most powerful country in the world with its religious and political weight. The economist, the largest exporter of crude oil in the world, the energy market stability thermometer, and the pioneer of relief and humanitarian work.

The Kingdom has reserved for itself a prominent place within the G20 countries. It is ranked 16th among the (G20) economies with a GDP of 782.5 billion dollars, and it is the fourth (G20) country in terms of foreign reserves with 489.3 billion countries, and the second lowest (G20) countries in terms of the ratio of public debt to GDP by 19.1%; These economic advantages are in harmony with the success of the goals of the Kingdom’s Vision 2030, which is a national document presented by His Highness the Crown Prince, and the entire Saudi people have gathered around it to engage in broad economic and social reforms and various programs that have contributed to finding new national sources of income alternative to oil revenues. Gigantic development projects that are the largest in the world, raising the standard of living, improving the style and quality of life, reducing the unemployment rate, enhancing the competitiveness of Saudi products, establishing a solid national base for a knowledge economy and achieving comprehensive and sustainable development.

The G20 summit in Riyadh acquired exceptional historical significance due to its coincidence with the emerging corona virus pandemic, which is the most dangerous global threat in the modern era. As this crisis weakened the global economy in an unprecedented way, and caused global turmoil and terror; To constitute a difficult test for the Kingdom in its leadership cycle for the G20, but the capital of Arab decision-making has proven its greatness in leading the poles of the world towards global stability, with exceptional success in managing the group in this difficult challenge, through many efforts and initiatives that it started by providing 500 million dollars as a donation to support Global efforts to combat Coronavirus, the Global Alliance for Vaccines and Immunization, and the World Health Organization.

The Kingdom’s efforts in managing the G20 culminated in hosting more than 170 virtual meetings over the course of its presidency, which witnessed support for global cooperation on important and most urgent issues, in addition to collecting contributions of more than $ 21 billion at the beginning of the pandemic to support global health and efforts to find vaccines, and assist developing countries. By exempting debts amounting to $ 14 billion, the Saudi leadership’s sophistication confirms its ability to make global decision-making and change its equation, based on a collective approach and strong foundations of partnership and cooperation between the world’s largest economies to serve the progress of humanity.

With the holding of the Riyadh Summit 2020, the messages of the Custodian of the Two Holy Mosques and His Highness the Crown Prince sent reassurance and hope to the peoples of the world regarding the means of preparation and response to the Corona virus and various epidemics, and their affirmation – may God preserve them – on equality between people in distributing vaccines, and focusing on the most severe groups At risk, providing the necessary support to all countries of the world. The pandemic has also not affected the Kingdom’s leadership efforts to empower people, seize the opportunities of the twenty-first century for all, and preserve the planet.

The G20 summit in Riyadh witnessed positive recommendations that formed reassurance and hope for the people of the entire world, in light of the difficult challenges that the planet is going through. Of course, the Corona pandemic dominated the results of the summit, which recommended providing full support to the groups most affected by the virus, and a commitment to strengthening preparedness measures to confront global pandemics and prevention. Of them, discover them and respond to them.

The commercial sector received great attention, as the group’s countries committed to implementing the initiative to suspend debt service payments, extending it to June 2021, as well as keeping transport routes and global supply chains open, safe and secure.

The summit also supported investment in infrastructure, strengthening the digital economy, achieving global financial stability, and working to achieve global goals to serve humanity, including: sustainable development, achieving a multilateral trading system, a fair and sustainable international tax system, fighting corruption, creating jobs, and empowering women. Providing comprehensive, equitable and quality education, addressing issues of migration and forced displacement, environment, energy and climate issues, ensuring food security, committing to preserving the planet, and building a more sustainable and inclusive environmental future for all.