Need for global collaboration more important than ever: King Salman

The Custodian of the Two Holy Mosques King Salman, while expressing his pleasure at welcoming the world to the Kingdom — which assumed the 2020 G20 Presidency on Saturday, announced that Saudi Arabia looks forward to hosting fellow G20 Leaders and all experts and participants in Riyadh in November to demonstrate the Kingdom's rich history and create a promising future for the region and the world.

King Salman said, "On behalf of the people of the Kingdom of Saudi Arabia, it is my pleasure to welcome you as the Kingdom assumes the 2020 G20 Presidency and announce to the world our pursuit to create a cooperative environment for the G20 to introduce policies and initiatives that will fulfil the hopes of the people of the world."

The G20 brings together leaders and representatives from every continent to collectively address the greatest challenges and propose impactful solutions for the whole world. For the last decade, this forum has played an instrumental role in addressing the global financial crisis, putting forward reforms fostering growth and development, and shaping collective approaches on issues requiring international cooperation, Saudi Gazette reports.

"Today, we are facing an ever-changing global landscape that is being transformed by technological, economic, demographic and environmental changes. And in an increasingly interconnected world, where G20 countries and their people face common challenges, the need for international collaboration is more important than ever," King Salman said.

The Monarch continued, "The Kingdom strongly believes in the power of global cooperation to forge mutually beneficial solutions, face challenges and create opportunities for all of humanity.

"We, in the G20, have a collective responsibility to advance global cooperation. We should empower people, pave the way for a better future for all and strive for sustainable economic policies to safeguard planet earth.

"We should also be forward-looking and adopt a bold long-term vision that makes the most of the current wave of innovation to shape new frontiers. Therefore, the Saudi G20 Presidency will steer the collective work in 2020 under the theme of Realizing Opportunities of the 21st Century for All.

"In doing so, we will build on the strong legacy of the G20, which has demonstrated the ability to take the long-term view of future challenges and opportunities and to deal effectively with urgent issues.

"To ensure the G20 process remains inclusive, we will engage widely with relevant stakeholders, including civil society, businesses and think tanks from across the region and the globe. We will aim for solutions where the G20 can add value for the benefit of the world. In hosting its first G20 Presidency, the Kingdom has a key role to bring forward the perspectives of the Middle East and North Africa region, as well as the views of developing countries.

"We, in the Kingdom, are currently undergoing a historic transformation under our Saudi Vision 2030 that aims to foster a vibrant society, a thriving economy and an ambitious nation. The Kingdom will work with G20 members to exchange experiences, solidify global cooperation and find solutions for the world's most pressing challenges of the 21st century."