The presidency of the G20 was transferred to Saudi Arabia during the summit proceedings in Osaka, Japan.
Next year’s summit is scheduled to be held in Riyadh in November 2020, underlining the Kingdom’s central role in global politics and economics.
At the conclusion of the Osaka summit, Saudi Crown Prince Mohammed bin Salman, Deputy Prime Minister and Minister of Defense, said that the Kingdom looks forward to hosting the global meeting, welcoming the G20 leaders to Saudi Arabia.
“We will work with the G20 in finding consensus to resolve world crises,” he vowed during closing statements.
“The G20 has a responsibility to create an environment for the world to prosper,” he added.
He also spoke of the need to keep abreast technological advances, remain aware of cyber threats and address issues of youth and women empowerment.
“The empowerment of women and the youth are pivotal to achieving growth in the world,” stressed Crown Prince Mohammed.
He hailed Japan’s program for the G20 during its presidency of the group, highlighting its focus on an economy that revolves around humans, adding that Saudi Arabia will continue to back Tokyo in executing the remainder of the program throughout 2019.
Furthermore, he said that the world needed now, more than ever, to bolster international cooperation and coordination given the complicated and complex challenges it is facing.
This can be achieved through bolstering international consensus on the basis of expanded dialogue, he remarked.
Saudi Arabia will assume the presidency of the G20 in December.
Saudi Arabia’s hosting of next year’s G20 summit will shed light on the major draw Vision 2030 represents for global investors and the Kingdom’s role in preserving the balance of energy markets.
This will not be the first time Saudi Arabia hosts such a massive global summit as it has become a hub for international decision-making.
It last held major conferences in May when the holy city of Makkah hosted the Gulf, Arab and Islamic summits. The meetings brought together the leaders of nearly 60 countries.
Moreover, US President Donald Trump chose the Kingdom as his first overseas visit when he was elected to office. The 2017 Riyadh summit was a series of three summits that included one bilateral meeting between the US and Saudi Arabia, and two multilateral meetings, one between the members of the Gulf Cooperation Council and the other with Arab and Muslim countries.
The meetings culminated in the establishment of a close partnership between Arab and Islamic countries and the US in confronting terrorism and extremism and in achieving peace, stability and development in the Arab and Muslim world.
