RIYADH, A UAE delegation led by Younis Haji Al Khoori, Under-Secretary of the Ministry of Finance has participated in the G20 Finance Ministers' and Central Bank Governors' meeting on 6th and 7th December in Riyadh, Saudi Arabia.

This is the second meeting held in Riyadh after the G20 'Sherpa' meeting, part of the 124 G20 meetings to take place during the Kingdom's presidency of the group in 2020.

The UAE delegation included Saeed Rashid Al Yateem, Assistant Under-Secretary of Resource and Budget.

Al Khoori stressed the importance of both the G20 Summit and meetings, noting that it is an opportunity for participating countries to discuss major international economic issues and coordination to achieve sustainable growth in the global economy, as well as the possibility to meet with prominent global leaders to discuss further cooperation.

"The summit is an important international event and presents an opportunity to share the UAE's views on various international issues, including the United Nation's Sustainable Development Goals. It also enables cooperation with prominent global economies to find solutions to address the challenges facing the world's international financial system, financial sector reforms and the future of investment in infrastructure," he said.

The UAE's participation in the 2020 G20 Riyadh Summit was part of the invitation from the Kingdom of Saudi Arabia, which assumes the G20 Presidency leading up to the Leaders' Summit in Riyadh on 21st and 22nd November, 2020.

The Saudi G20 Presidency will focus on 'Realising Opportunities of the 21st Century for All' and will have three aims - 'Empowering People' by creating the conditions in which everyone - especially women and youth - can live, work and thrive; 'Safeguarding the Planet' through collective efforts on food and water security, climate, energy and environment, and 'Shaping New Frontiers' through long-term strategies to share the benefits of innovation and technological advancement.

Finance ministers and central bank governors from the G7 countries in addition to Argentina, Australia, Brazil, China, India, Indonesia, Korea, Mexico, Russia, Saudi Arabia, South Africa and Turkey, also took part in the meetings.

The Deputy Minister of Finance of the Presidency of the Council of the European Union, the President of the European Central Bank, Deputy Ministers of Finance and Central Bank Governors of certain invited countries, and representatives of international organisations including the IMF and the World Bank will also participate.

G20 countries collectively constitute about 80 percent of the gross world product, GWP, and account for about 80 percent of the global trade, two-thirds of the world population, and approximately half of the world land area.

Source: Emirates News Agency