Saudi Sherpa Discusses Priorities of G20 Meetings in India

The Saudi Sherpa held a workshop with representatives of the participating parties in the G20 meetings. (Asharq Al-Awsat)
The Saudi Sherpa held a workshop with representatives of the participating parties in the G20 meetings. (Asharq Al-Awsat)
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Saudi Sherpa Discusses Priorities of G20 Meetings in India

The Saudi Sherpa held a workshop with representatives of the participating parties in the G20 meetings. (Asharq Al-Awsat)
The Saudi Sherpa held a workshop with representatives of the participating parties in the G20 meetings. (Asharq Al-Awsat)

Saudi officials reviewed the priorities of the G20 for the current year, which include supporting global economic growth in light of geopolitical tensions, strengthening global value chains and flexible logistics services, in addition to a range of issues related to health, energy, food security, education, tourism, the labor market and the digital economy.

These discussions were held during a workshop held by the Saudi Ministry of Finance that brought together the Saudi Sherpa Office and representatives of relevant government agencies.

The workshop provided an overview of the G20 agenda under the Indian Presidency for the year 2023 and discussed Saudi Arabia’s role within the group, in addition to means to maximize the benefits of the initiatives launched by the Kingdom during its presidency of the G20 in 2020.

Participants also discussed the roadmap and the Kingdom’s participation in the group’s meetings leading to the summit of leaders of the G20 countries, which will be held in New Delhi on Sept. 9-10, 2023.

The Sherpa is an envoy representing a head of a government participating in the main agenda prior to the convening of the summits of the leaders of the G20 countries, with the aim of preparing for negotiations that culminate in the agreement on the final statements issued by those summits.

The Group of Twenty (G20) comprises 19 countries, including Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, South Korea, Mexico, Russia, Saudi Arabia, South Africa, Türkiye, the United Kingdom and United States, in addition to the European Union.

The G20 members represent around 90 percent of the global GDP, over 80 percent of the global trade, and about two-thirds of the world population.



Biden Admin Delays Enforcement of Order Blocking Nippon Steel, US Steel Deal

FILE PHOTO: The logos of Nippon Steel Corp. are displayed at the company headquarters in Tokyo, Japan March 18, 2019. REUTERS/Yuka Obayashi/File Photo
FILE PHOTO: The logos of Nippon Steel Corp. are displayed at the company headquarters in Tokyo, Japan March 18, 2019. REUTERS/Yuka Obayashi/File Photo
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Biden Admin Delays Enforcement of Order Blocking Nippon Steel, US Steel Deal

FILE PHOTO: The logos of Nippon Steel Corp. are displayed at the company headquarters in Tokyo, Japan March 18, 2019. REUTERS/Yuka Obayashi/File Photo
FILE PHOTO: The logos of Nippon Steel Corp. are displayed at the company headquarters in Tokyo, Japan March 18, 2019. REUTERS/Yuka Obayashi/File Photo

The Biden administration will hold off enforcing a requirement laid out in an executive order this month that Nippon Steel abandon its $14.9 billion bid for US Steel, the companies said on Saturday.

US President Joe Biden blocked Nippon Steel's planned acquisition of US Steel on national security grounds on Jan. 3, and his Treasury Secretary Janet Yellen said this week that the proposed deal had received a "thorough analysis" by interagency review body, the Committee on Foreign Investment in the United States.

The delay will give the courts time to review a legal challenge brought by the parties earlier this month against Biden's order. The parties previously had 30 days to unwind their transaction, Reuters reported.
"We are pleased that CFIUS has granted an extension to June 18, 2025 of the requirement in President Biden's Executive Order that the parties permanently abandon the transaction," the companies said in a joint statement.
"We look forward to completing the transaction, which secures the best future for the American steel industry and all our stakeholders," they said.
US Steel and Nippon Steel alleged in a lawsuit on Monday that the CFIUS review was prejudiced by Biden's longstanding opposition to the deal, denying them of a right to a fair review. They asked a federal appeals court to overturn Biden's decision to allow them a fresh review to secure another shot at closing the merger.
The US Treasury secretary chairs the CFIUS panel, which screens foreign acquisitions of US companies and other investment deals for national security concerns. CFIUS normally decides directly on cases or submits recommendations to the president, but in the US Steel-Nippon Steel case, the panel failed to reach consensus on whether Biden should to approve or reject it, leaving the decision to him.
Both Biden and his successor, Republican Donald Trump, had voiced opposition to the Japanese company acquiring the American steelmaker as the candidates courted union votes in the November election won by Trump.
CFIUS has rarely rejected deals involving the Group of Seven closely allied countries, which include Japan.