G20 comes to the Kingdom

G20 comes to the Kingdom

Aramcons will be among those throughout Saudi Arabia who will be participating in the Engagement Group of 20 (G-20) event planned this November. As the event host, the Kingdom will hold meetings that bring together ministers, senior officials, and civil society representatives.

These employees will be able to participate in a number of events held as part of the gathering, sharing their opinions and expertise, using their expertise in fields ranging from business fields, and Human Resources to arts and cultures (Ithra) to enrich and experience this first-ever event for the Kingdom.

Even before the event, they have taken an interest in engaging on issues such as diversity in the workplace, technology, and the Kingdom’s circular carbon economy initiative.

What is G-20?

The Group of 20 (G-20), established in 1999, is the main international economic cooperation forum that includes leaders of developed and developing countries from all continents. The G-20 member states together comprise 80% of the world economy, two-thirds of the world population, and three-quarters of world trade volume. Representatives of the G-20 countries meet to discuss financial, social, and economic issues.

How does the G-20 work?

The host country, which presides over the group, holds several meetings that bring together ministers, senior officials, and civil society representatives. On the level of governments, the work of the G-20 focuses on the financial course and the Sherpa, which represents civil society communication groups.

Financial course

Meetings of the G-20 finance ministers and central bank governors and their deputies focus on financial and monetary issues such as the world economy, infrastructure, monitoring of financial systems, financial comprehensiveness, international financial structure, and international taxes.

Sherpa course

In these meetings of relevant ministers and senior officials, the focus will be on socioeconomic issues such as agriculture, combating corruption, climate, digital economy, education, labor, energy, environment, health, tourism, trade, and investment.

Engagement groups

Engagement groups represent the civil society, developing and presenting recommendations to G-20 leaders for discussion. Engagement groups include the B-20 (Business 20), the Y-20 (Youth 20), L-20 (Labor 20), T-20 (Think 20), C-20 (Civil Society 20), W-20 (Women 20), S-20 (Science 20), and U-20 (Urban 20).

About the Leaders Summit

The Leaders Summit brings together a number of world leaders to discuss world economic cooperation. Taking part in the G-20 summit are heads of state and prime ministers from 19 countries, in addition to the European Union. Additionally, leaders of invited guest countries and representatives of regional and world organizations take part in the summit.

Riyadh Summit

The 2020 G-20 summit will be the 15th meeting of the group. The world will turn its eyes to Riyadh, which will host the summit on Nov. 21 and 22 for the first time in the Kingdom’s history.

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