Saudi Arabia takes over G20 presidency from Japan with new logo
Saudi Arabia assumed the G20 Presidency yesterday, taking the reins from Japan and bringing the forum to the Middle East for the first time since the summit started in 2008.
To mark the occasion, Riyadh unveiled a new logo for the presidency as it looks to the Leaders’ Summit in Riyadh on November 21 and 22 next year.
“The Saudi G20 Presidency is committed to continuing the work from Osaka and promoting multilateral consensus. Working with our G20 partners, we will strive to deliver concrete actions and realise opportunities to enable us to face the challenges of the future”, said Saudi Crown Prince Mohammed bin Salman.
The forum, which gathers finance ministers, central bank governors and policymakers to discuss global economic issues, emerged out of the G7 and G8 after the 2008 global financial crisis and held its inaugural summit in Washington that year.
Attendees include the world’s 19 largest economies and the European Union, which together represent more than 80 per cent of the global economy.
Under the theme “Realising opportunities of the 21st Century for all”, next year’s G20 will focus on three aims, the staterun Saudi Press Agency said.
These include empowering people – especially women and young people – by creating conditions in which they can live, work and thrive; safeguarding the planet by fostering collective efforts on food and water security, climate, energy and environment; and shaping new frontiers by adopting long-term, bold strategies to share the benefits of innovation and technological advancement.
Saudi Arabia said it is committed to ensuring the G20 continues to reflect a broad and inclusive range of international perspectives, SPA said. The kingdom has already extended invitations to Jordan, Singapore, Spain and Switzerland for the event.
Regional organisations that have also been invited, include the Arab Monetary Fund, the Islamic Development Bank, the Association of Southeast Asian Nations, the African Union, the Gulf Co-operation Council, and the New Partnership for Africa’s Development.