Saudi Arabia Plans 180 Global Initiatives for G20 Summit

Saudi Arabia Plans 180 Global Initiatives for G20 Summit
TT
20

Saudi Arabia Plans 180 Global Initiatives for G20 Summit

Saudi Arabia Plans 180 Global Initiatives for G20 Summit

Saudi Arabia has revealed it is following over 180 initiatives and challenges for the G20 summit that it will host in November.

The Kingdom has also decided to establish the largest media center of its kind for such international forums. It will accommodate 10,000 journalists and reporters covering the November G20 summit.

Saudi Arabia’s official representative for the 2020 G20 summit, State Minister Fahd bin Abdullah al-Mubarak, stressed that the world economy is now going through a complex period full of uncertainty, despite the improvement in global economic growth since the 2008 financial crisis.

He made his comments during the first introductory meeting for the press covering the G20 held on Sunday at the headquarters of the Saudi Press Agency in Riyadh.

Mubarak said Saudi Arabia has discussed with international and regional organizations, think-tanks, experts and representatives of communication groups at the international, regional and local levels the challenges facing the world and the solutions the international community can provide.

“Despite the various opportunities that can contribute to the raise of the global economy in 2020, a number of challenges and risks can halt this growth,” he noted.

Mubarak highlighted the financial market fluctuations, environmental challenges and demographic changes, as well as the uncertainty facing promising technologies.

He said 10 years are left for the Kingdom to achieve its Vision 2030, stressing that its goals along with those of the G20 are largely consistent.

“As it hosts the G20 summit, the Kingdom will tackle the opportunities and challenges of the 21st century, and we will work to achieve tangible results for the whole world, in cooperation with G20 member states,” he said.

“We will also communicate with all relevant parties, such as non-member states, international organizations and civil society representatives.”

Minister of Media Turki al-Shabanah said the Kingdom has prepared an integrated program to ensure the success of the global event and address current and emerging issues, along with future challenges.



Indian PM: ‘Economic Corridor’ Is the New Silk Route of the 21st Century

Prince Mohammed bin Salman, Saudi Crown Prince and Prime Minister, meets with Indian Prime Minister Narendra Modi in New Delhi in September 2023. (SPA)
Prince Mohammed bin Salman, Saudi Crown Prince and Prime Minister, meets with Indian Prime Minister Narendra Modi in New Delhi in September 2023. (SPA)
TT
20

Indian PM: ‘Economic Corridor’ Is the New Silk Route of the 21st Century

Prince Mohammed bin Salman, Saudi Crown Prince and Prime Minister, meets with Indian Prime Minister Narendra Modi in New Delhi in September 2023. (SPA)
Prince Mohammed bin Salman, Saudi Crown Prince and Prime Minister, meets with Indian Prime Minister Narendra Modi in New Delhi in September 2023. (SPA)

Indian Prime Minister Narendra Modi said on Monday that the India-Middle East-Europe Economic Corridor (IMEEC), launched in 2023, will define the future of connectivity in all forms for centuries to come and will become the key catalyst of commerce, connectivity and growth in the entire region.

“It can be the new Silk Route of the 21st century that will bring benefit to the generations to come,” Modi said in an interview with Arab News ahead of his third visit to Saudi Arabia since 2016.

The PM is traveling on Tuesday to the Kingdom, where he will hold talks with Prince Mohammed bin Salman, Saudi Crown Prince and Prime Minister, on commercial and investment relations in addition to the energy sector.

“The Kingdom of Saudi Arabia is one of India’s most valued partners — a maritime neighbor, a trusted friend and a strategic ally,” Modi said, emphasizing how bilateral relations had expanded significantly since the creation of the Strategic Partnership Council in 2019.

The PM said India and Saudi Arabia will keep moving forward together — for peace, progress and prosperity, “not just for our people, but for the entire world.”

“We consider Saudi Arabia as a force of positivity and stability in the region. As maritime neighbors, India and Saudi Arabia share a natural interest in safeguarding peace and stability in the region,” Modi affirmed.

The PM said he sees several complementarities between Saudi Vision 2030 and India’s Viksit Bharat 2047 (Developed India 2047 initiative).

Modi said trade between the two countries had grown even amid global challenges, with energy, agriculture and fertilizers as key sectors, noting that the two countries are working on a Bilateral Investment Treaty.

He stressed that Indian businesses and Saudi industry are building stronger connections, which is boosting the investment partnership, particularly in the sectors of agriculture and fertilizers.

Energy has been an important pillar of Saudi Arabia and India’s economic partnership, Modi continued.

Both countries are exploring joint projects in refineries and petrochemicals and can work toward innovative solutions for future energy needs, he added.

According to the Prime Minister, Indian companies have maintained a strong presence across various sectors in Saudi Arabia and are playing a crucial role in the realization of Saudi Vision 2030.

At the same time, he invited Saudi companies to take advantage of the remarkable opportunities in India as part of the Viksit Bharat journey, by participating in the growth of India’s next-generation infrastructure, logistics, renewable energy, healthcare, utilities, innovation, start-ups and “blue economy” sectors.

At the security level, Modi said India and Saudi Arabia have seen steady progress in security cooperation.

“This includes areas such as counterterrorism, combating extremism, disrupting terror financing and tackling drug trafficking. We are also exploring new frontiers of cooperation in cybersecurity, recognizing its growing importance in today’s interconnected world,” he said.

Concerning bilateral relations between the leaderships of both countries, Modi praised Crown Prince Mohammed’s leadership, calling him “a strong advocate of our bilateral ties.

“Every time I have met him, His Royal Highness has left a deep impression on me. His insights, his forward-thinking vision, and his passion for fulfilling the aspirations of his people are truly remarkable,” he said.

At the cultural level, Modi said growing cultural connect between Saudi Arabia and India is indicative of the understanding and appreciation for each other.

“The 2.7 million vibrant Indian community in Saudi Arabia is a living bridge connecting our two countries. I commend them for not only preserving their values and traditions, but also promoting them,” he remarked.

As far as religious tourism is concerned, Modi said India has a large Muslim population that visits the Kingdom each year for Umrah and Hajj pilgrimage. “We are grateful to the Saudi leadership for the continued assistance provided to Indian pilgrims,” he stressed.