Saudi Arabia holds significant importance within the G20 group due to its status as one of the world’s major economies. This prominence is primarily driven by its ambitious national transformation plan, Vision 2030, which is aimed at fostering the continued prosperity of its economy.
Simultaneously, Saudi Arabia commands a formidable presence in the energy sector, exerting both direct and indirect influence on global energy markets.
This influence is exemplified by its pivotal role in stabilizing oil prices and ensuring the stability of global energy supplies, a matter of paramount concern for G20 member nations.
Moreover, the Kingdom possesses regional geopolitical capabilities in the Middle East that enable it to address regional challenges and contribute to regional stability.
This has garnered significant attention in discussions within the G20 group concerning global security and political issues.
Saudi Arabia also plays a pivotal role in global investments and trade. Its participation in the G20 allows it to engage in discussions on international trade policies, investment opportunities, and economic cooperation.
Simultaneously, Saudi Arabia has made extensive contributions over the years, offering numerous solutions to global challenges addressed by the G20, including climate change, sustainable development, and global health issues.
In general, Saudi Arabia’s membership in the G20 reflects its economic and geopolitical significance on the global stage and its active involvement in addressing critical global issues.
Economic expert Fadel al-Buainain, a member of the Saudi Shura Council, highlighted that Saudi Arabia has emerged as one of the most committed nations to achieving sustainable development through its Vision 2030 initiative.
This visionary plan has had a profound impact on the Saudi economy, resulting in the highest growth rate among G20 countries at 8.7%, according to al-Bauinain.
“This remarkable growth has earned accolades from the International Monetary Fund, acknowledging the success of Saudi Arabia’s developmental and reform programs, which have yielded positive outcomes,” said the expert.
Al-Buainain emphasized that sustainable development is a crucial topic under discussion at the current G20 summit.
Al-Buainain also underscored that Saudi Arabia’s prosperity, developmental trajectory, and significant programs make it a shining beacon within the G20, serving as a model that can be followed in sustainable development plans.
This is particularly pertinent for developing nations in need of effective strategies and developmental programs to achieve sustainable development goals.
