Saudi Arabia affirms its commitment to working with the G20 towards a more inclusive and equitable economic system.

Saudi Arabia affirmed on Sunday its commitment to continue working with the G20 countries to promote a more inclusive, equitable, and sustainable economic system based on cooperation, innovation, and equal opportunities, in order to achieve shared prosperity and protect the future of coming generations.

On behalf of His Royal Highness Prince Mohammed bin Salman, Crown Prince and Prime Minister of Saudi Arabia, His Royal Highness Prince Faisal bin Farhan, Minister of Foreign Affairs, participated in the second day of the G20 Leaders’ Summit. In his remarks during the session, he expressed the Kingdom’s appreciation for South Africa’s presidency of the G20 and its outstanding efforts in developing this year’s strategic outcomes, which have built upon past achievements and paved the way for continued progress in addressing the challenges facing many member states.

Prince Faisal bin Farhan stressed the need to ensure fairness and equity in access to and investment in vital resources in a way that promotes economic growth and achieves a balance between development and environmental protection, in light of the world’s current rapid shift towards a green economy and clean technologies.

He added that “Saudi Arabia believes that artificial intelligence is a key factor in accelerating innovation, improving the efficiency of resource use, and enhancing sustainability in various sectors. This requires an approach based on dialogue, cooperation, teamwork, respect for international law, consumer protection, and intellectual property rights, leading to the development of a fair and comprehensive governance system.”

The second day of the summit, held in Johannesburg, South Africa, was held under the title: “A fair and equitable future for all vital minerals: decent work, artificial intelligence.” The Saudi side was represented by Mohammed Al-Jadaan, Minister of Finance, and Abdul Mohsen Al-Khalaf, Deputy Minister of Finance and Saudi Sherpa.

In addition, Prince Faisal bin Farhan held a series of bilateral meetings on Sunday with leaders and foreign ministers of several countries. The Saudi Foreign Minister discussed bilateral relations with Finnish President Alexander Stubb, ways to strengthen and develop them in various fields, as well as current developments and issues of common interest.

In a meeting with Spanish Foreign Minister José Manuel Álvarez, Prince Faisal bin Farhan reviewed bilateral relations between the two countries, and the two sides discussed regional and international developments. Also present at the meetings from the Saudi side were Ambassador Faisal Al-Harbi to South Africa and Waleed Ismail, Director General of the Minister’s Office.

AL SHARQ AL AWSAT