Yousef Al-Benyan, Chair of the G20 Business 20 (B20) Summit this year, revealed that 25 policy recommendations and 69 action proposals have been prepared to be discussed at the summit which will be held on Oct 26-27.
Saudi Arabia, the current G20 chair, will host the virtual summit that includes representation from the region and developing nations.
Al-Benyan explained that the recommendations and proposals arise from several issues, including women in business, digitalization, trade, finance, infrastructure, energy and sustainability.
B20 Saudi Arabia has worked to develop inclusive, action-oriented policy recommendations through consultations with more than 650 business leaders from all G20 countries and beyond.
The Saudi business community is strongly represented in the B20 six Taskforces and one Action Council.
“When Saudi Arabia took over the Presidency of the G20 and B20, the COVID-19 pandemic was not on the horizon. For the past several months, we have had to respond to an incredibly uncertain scenario. But, most importantly, we had to work together to design a path back to recovery — one that allows global economies to build back better, in a more inclusive and sustainable way,” said Al-Benyan.
“The challenges presented in this year’s Presidency were met with resilience and creativity by the Saudi business community, a demonstration of our innovation mindset and future centricity. I’m proud of what we have been able to achieve despite headwinds and I look forward to continue collaborating with them and elevating the Kingdom’s leadership in the global stage, under the guidance of Saudi Arabia’s leaders,” he continued.
B20 efforts over the course of 2020 also included the establishment of the COVID-19 Initiative, aimed at addressing immediate needs without losing sight of medium and long-term goals.
As a result, the B20 issued a special report to the G20 on jump-starting the economy in a post-pandemic phase and has issued several joint statements with other engagement groups and global organizations calling for collaborative action in areas such as trade, energy, labor (including the protection of most vulnerable groups such as women and entrepreneurs), and integrity and compliance.
The B20 has also hosted two virtual events focused on addressing the impact of the pandemic and preparing for the potential second wave.
Further, the Saudi-led B20 partnered with chambers of commerce and industry organizations in the G20 countries to host a series of events, entitled the “B20 Global Dialogue”, to present and discuss its policy recommendations.
The B20 Summit will bring together global leaders from business, academia, civil society, and international organizations.
