Upcoming G20 meeting to stress on revival of global economy: Saudi Arabia

The upcoming 15th summit of the G20 themed 'realising opportunities of the 21st century for all' will be a turning point and will focus on its pillars of empowering people, safeguarding the planet and shaping new frontiers.

The chair of G20, the powerful economic bloc, Saudi Arabia said on Sunday holds that the forth coming summit will be a milestone.

The much awaited meeting is to be held virtually on November 21-22 amid mounting expectations of fiscal support, debt reductions and several other monetary measures to rescue the collapsing global economy hit by the Covid19 pandemic.

Saudi Arabia's Ambassador to India Saud bin Mohammed Al Sati said the summit will mostly focus on addressing the necessary implications deemedto alleviate the impact of the pandemic, future health care plans and steps for reviving the global economy.Following the march summit the G-20 had put forth a coordinated set of strategies and had publicized to inject over USD 5 trillion into the global economy to offset the impact of the pandemic.

Saudi Arabia values the knowledge and experience that India has brought to the G20 as well as its remarkable efforts in extending medical supplies to several countries across the globe to deal with the pandemic, he added.

The summit will include a series of "engagement groups" focused on youth, labour, civil society, women, science, businessthat have been tasked with developing policy recommendations for the G20 leaders to consider.

"Coupled with key ministerial meetings and leaders' summits, G20 has attached great attention to the work of the eight engagement groups, as they constituted the core of the efforts of the G20 for this year, with the aim of building a more resilient and better world for all," Al Sati said.

"We acknowledge India's role as a major producer of vaccines and we appreciate the crucial role it plays in the efforts to make vaccines available and accessible,"he added.

"We acknowledge India's remarkable efforts during the coronavirus pandemic to help several countries across the globe battle with the pandemic." He further added

The G20 comprises the world's largest and fastest-growing economies and accounts for 85 percent of the global GDP and two-thirds of its population.

(From PTI with edits by Haifa Muneer)