Wednesday, 20 Nov 2019

Custodian of the Two Holy Mosques and HRH Crown Prince … Effective Efforts in G20 Summits

Riyadh, The Kingdom of Saudi Arabia's role in the Group of Twenty (G20), the body embracing the world's 20 strongest economies, has strengthened its position in the global economy, thanks to its solid economic-industrial base. This role emphasizes the Kingdom's weight and position on the global economy and its moderate and economic decisions adopted over the years in addition to the balanced growth of the Saudi banking system.

Saudi Arabia is always committed to perform positive and effective roles in order to achieve the global economic stability.

The Custodian of the Two Holy Mosques King Salman bin Abdulaziz Al Saud led the Kingdom's delegation to 2014 Brisbane Summit in Australia when he was the Crown Prince.

During the Brisbane Summit, the Custodian of the Two Holy Mosques delivered a speech in which he pointed out that the slow pace of the global economic recovery, in addition to serious rise in risks, do require the maintenance and implementation of economic policies along with the supporting structural reforms that serve growth. The Custodian of the Two Holy Mosques welcomed the consensus to establish confidence in the global economy, stressing the need for full implementation of the G20 comprehensive strategies.

Concerning the world energy markets, he said that the Kingdom continues its balanced policy and positive and influential role to enhance the stability of these markets through its active role in the global oil market and taking into consideration the interests of the energy producing and consuming countries. For this reason, the Kingdom has invested in maintaining additional production capacity to enhance the stability of global energy markets.

On the sidelines of the Brisbane Summit held in Australia, the Custodian of the Two Holy Mosques, then Crown Prince, had discussions with British Prime Minister David Cameron; French President Francois Hollande, German Chancellor Angela Merkel; South Korean President Park Geun-hye; Indian Prime Minister Narendra Modi; Singaporean Prime Minister Lee Hsien Loong and UN Secretary-General Ban Ki-moon. During the meetings, bilateral relations and topics on the agenda of the summit were discussed.

Source: Saudi Press Agency

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