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International Leaders: Saudi Arabia Can Influence Global Economy at G20 Summit

International Leaders: Saudi Arabia Can Influence Global Economy at G20 Summit

Friday, 1 November, 2019 - 09:30
The Future Investment Initiative is held in Riyadh from October 29-31. (AFP)

International leaders have confirmed Riyadh’s ability to make the G20 summit in Saudi Arabia a success in 2020 due to the Kingdom’s potential and expertise in the global economy.

The leaders were talking during a session entitled “Economic Diplomacy”, held within the Future Investment Initiative Forum in Riyadh.

They said that the success of Saudi Arabia in hosting the upcoming G20 summit was not only important to the Kingdom, but to the whole world.

Kevin Rudd, former Australian prime minister, said: “We want the (G20) summit in 2020 to discuss the fundamental issues, such as financial stability and balance in economic growth, as it is an important topic for the group.”

He pointed out that the new challenges were the recent legislation and future regulations, such as crypto-currencies, which will change financial transactions.

For his part, David Cameron, former British Prime Minister said that the G20 in 2008 and 2009 succeeded in preventing the decline in the global economy, and did a wonderful job to achieve global stability.

“My advice is to look at the opportunities that Saudi Arabia has to offer at the G20 meeting; one of the things that can be done in this global international forum is to think broadly about what Saudi Arabia can make to achieve a real difference,” he underlined.

Former French Prime Minister Francois Fillon touched on the economic situation in Europe and Britain’s exit from the European Union.

“For the G20 to succeed, we have to talk about justice and inequality in a different way,” he said. “World leaders have to work together to address problems, by providing solutions, through economic development with the help of technological progress.”

Matteo Renzi, former Prime Minister of Italy, noted that the G20 meeting in Saudi Arabia would constitute a great opportunity.

“Saudi Arabia is a superpower, not only in the economy, but also in culture, tourism and innovation, and in sustainability,” he underlined.

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