SUSTG is covering the events and meetings taking place in the run up to the G20 in November as part of our “Road to the G20” series of posts and featured items. Saudi Arabia just wrapped up the hosting of the B20 business-focused group, as well as the T20 meetings last week.
The Business 20 (B20) virtual Summit convened on October 26 – 27, 2020, under the theme “Transforming for Inclusive Growth,” concluding their activities for this year. The B20 Summit gathered global leaders representing the voice of business, proposing policies and innovations that explore how economic transformation can create sustainable and inclusive growth.
Discussions covered several business topics including repurposing business through stakeholder capitalism, humanizing technological transformation, advancing women’s economic empowerment, creating equal competition for companies, and building resilient trade systems.
The summit was chaired by Mr. Yousef Abdullah Al-Benyan, the B20 Chair and Vice Chairman and CEO of SABIC. Several representatives from the Saudi government and Saudi G20 Presidency attended the summit, including Her Royal Highness Princess Reema Al-Saud, Ambassador of the Kingdom of Saudi Arabia to the United States of America, Dr. Majed Abdullah Al-Qasabi, Minister of Commerce Eng. Khalid Al-Falih, Minister of Investment, Dr. Fahad Al-Mubarak, Saudi G20 Sherpa, Mr. Bandar Al-Khorayef, Minister of Industry and Mineral Resources, Dr. Fahad Toonsi, Secretary General of the G20 Saudi Secretariat, and Mr. Abdulaziz Al-Rasheed, Assistant Finance Minister for International Financial Affairs & Macro Fiscal Policies, according to the press release.
Eng. Khalid Al-Falih, on behalf of the Custodian of the Two Holy Mosques King Salman Bin Abdulaziz Al Saud, received the B20 recommendations and delivered a speech, highlighting that most B20 priorities are similar to the current transformations in the Kingdom of Saudi Arabia.
“We have also implemented a wide-range of reforms for women empowerment at home and work, including entrepreneurship programs and incubators; specifically, preventing gender discrimination in access to financial services, which makes the Kingdom of Saudi Arabia one of the only 3 countries in the world to achieve this,” Al-Falih said.
Following the B20, the Think 20 (T20) also concluded on November 1st. The T20 two-day virtual Summit communicated their recommendations to both the G20 leaders and to the public, along with hosting discussions in the presence of several representatives from the Saudi G20 Presidency and the Saudi government.
The T20 Summit was chaired by Dr. Fahad Alturki, the T20 Chair and Vice President of Research at the King Abdullah Petroleum Studies and Research Center (KAPSARC). Discussions revolved around five main themes; Climate and Environment, Women and Youth, Multilateralism, Economic Development and Finance, Sustainable Resources, and Technology and Digitalization.
The Summit was a global event that gathered think tanks and thinkers, including several senior Saudi officials, who discussed evidence-based solutions for current global issues and the new normal, including international cooperation, digital economy, sustainable energy, and the impact of the pandemic on workers.
Prince Faisal bin Farhan Al Saud, Saudi Minister of Foreign Affairs, received the T20 recommendations on behalf of the Custodian of the Two Holy Mosques King Salman Bin Abdulaziz Al Saud, and said: “The Saudi G20 Presidency this year was keen to listen to your various recommendations through the Working Groups meetings that you participated in. The Kingdom’s presidency has acknowledged the Engagement Groups outcomes, including the T20 Engagement Group.”
The G20 begins on November 21-22.
[For the T20 full press release, click here.]
[For the B20 full press release, click here.]
