Minister of Finance Dr. Ibrahim Al-Assaf stressed that the presidency of His Royal Highness Prince Salman bin Abdulaziz Al Saud, Crown Prince, Deputy Prime Minister and Minister of Defense, of the Kingdom's delegation to the G20 summit on behalf of the Custodian of the Two Holy Mosques King Abdullah bin Abdulaziz Al Saud, has had a great impact, as his meetings with leaders of major countries discussed issues related to the G20, as the Kingdom is an active member of this global economic system.
Minister of Finance Dr. Ibrahim Al Assaf <He pointed out that the Kingdom's keenness during the meetings to clarify its positions and viewpoints in order to preserve its interests. <He added that the Kingdom's speech delivered by His Highness the Crown Prince to the leaders of the G20 delegations highlighted the Kingdom's view of the global economy and its vision in supporting developing countries in addition to its petroleum policies. Al-Assaf said that the international economic situation is not good because of the slowdown in growth, especially in Europe and slower than average growth in China and Japan. «There are countries whose economic situation is good and contribute to this growth more, such as the United States of America and a number of countries, including the Kingdom, where economic growth is good and exceeds 4 percent.»
Al-Assaf said that the Kingdom's speech to the leaders of the G20 delegations highlighted the Kingdom's view of the global economy and its vision to support developing countries in addition to its petroleum policies. <During his meeting, in the presence of the Minister of Hajj, Acting Minister of Culture and Information Dr. Bandar bin Mohammed Hajjar, Governor of the Saudi Arabian Monetary Agency Fahd bin Abdullah Al Mubarak, and Ambassador of the Custodian of the Two Holy Mosques to Australia Nabil Al Saleh, the Saudi media delegation participating in the coverage of the G20 Summit, which includes the head of the media delegation, head of the Saudi Press Agency, editors-in-chief of Saudi newspapers, writers and delegations of the Saudi Press Agency and radio and television authorities in the Australian city of Brisbane, Al Assaf addressed the most prominent points that were discussed during the G20 Summit and received more attention from leaders in the range of Developments in the global economy, policies required to promote strong, balanced and sustainable growth, reforming the international financial architecture, supporting multilateral trade, combating corruption, development, sustainable energy, tax legislation, in addition to stimulating investment, especially in infrastructure. <He explained that the Australian presidency of the G20 has prioritized three main themes: Promoting sustainable economic growth and strengthening job creation policies, enhancing the resilience of the global economy to crises and shocks, and strengthening the G20«s working procedures.
He explained that the Australian G20 presidency has prioritized three main themes. <He pointed out that the most prominent points discussed by the leaders during working sessions that lasted for a day and a half included emphasizing sending a positive message to the world to enhance confidence in the global economy, and the importance of the G20 countries agreeing on a number of strategies to promote economic growth through the Brisbane Action Plan and strategies for job creation: Brisbane Action Plan and comprehensive growth strategies that are expected to add 1.2 percent to global economic growth or the equivalent of more than 2 trillion dollars over the next five years, the seriousness in implementing commitments, the importance of continuing to work on more structural reforms to stimulate investment and increase economic growth, in addition to the need for more policies to support global demand in countries that have the potential to adopt such policies.
The Minister of Finance said. <»The leaders stressed the importance of investment to bridge the gap between what is needed and implemented through the adoption of policies that support investment and stimulate financing in infrastructure, whether in developed or developing countries and public-private partnership. The leaders welcomed the initiative of the Australian presidency to establish the Infrastructure Center, which will be a center for information on projects to be implemented by countries in this sector and exchange them while publishing global best practices, and because of the importance of the topic and the benefits the Kingdom can gain from participating in it, especially since it is working on implementing an ambitious investment program whose priorities include infrastructure," said the Minister of Finance. Dr. Al-Assaf said that the leaders addressed the issue of trade and the need to move forward with the implementation of commitments to liberalize global trade and not impose any protectionist measures and strengthen the global trade system, and stressed the importance of modernizing global tax systems, strengthening financial sector legislation, and accelerating the implementation of the approved IMF reforms.
He touched on the topic of energy for the poor, noting that this topic is of interest to the Kingdom and has received interest from the leaders of the countries in supporting this topic and following it up with international institutions, the Saudi Fund for Development and regional institutions to help poor countries, especially in Africa, to obtain appropriate and less expensive energy for these countries.
He pointed out that the topic of energy for the poor is of interest to the Kingdom. <He pointed out that the issue of renewable energy and carbon dioxide emissions and their impact on climate change, on which the Kingdom and other countries emphasized that it has another area of discussion because it is related to other measures. He explained that the leaders of the G20 countries discussed working to strengthen cooperation in the energy sector, where the leaders approved principles in this field and the energy efficiency action plan, in addition to that the leaders also discussed issues related to Ebola and the work required to address this epidemic and other infectious diseases because of their negative impact on the economy and support the affected countries, and the summit statement was approved.
He pointed out that Turkey He pointed out that Turkey made a presentation on its work plan in the chairmanship of the group for the coming year 2015, dealing with the axes of focusing the group's agenda, making development the center of its work and supporting economic growth.
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