Saudi Foreign Minister Highlights Global Economic Coordination at G20 Summit
Johannesburg, The Gulf Observer: Saudi Foreign Minister Prince Faisal bin Farhan emphasized the need for strengthened international coordination to tackle major global economic challenges during his address at the G20 Leaders’ Summit in Johannesburg on Saturday.
“Saudi Arabia continues to work with its partners to build a more integrated and sustainable global economy that ensures a prosperous and secure future for generations to come,” Prince Faisal said.
On behalf of Crown Prince and Prime Minister Mohammed bin Salman, Prince Faisal led the Kingdom’s delegation, which also included Minister of Finance Mohammed Al-Jadaan and Saudi Sherpa Deputy Minister of Finance Abdulmohsen Al-Khalaf. The summit was inaugurated by South African President Cyril Ramaphosa, who highlighted the importance of multilateral cooperation to address urgent global issues, including economic stability, energy security, and food security.
In his remarks, Prince Faisal reaffirmed Saudi Arabia’s commitment to sustainable development and multilateral cooperation. He highlighted that global challenges—ranging from debt burdens, food and energy security, climate change, to digital transformation—require coordinated international action and a balanced approach integrating economic development with environmental protection.
“The current global challenges necessitate continuous international coordination and an integrated approach to achieve economic development, protect the environment, and ensure financial stability,” Prince Faisal said. He added that the Kingdom is implementing frameworks to encourage responsible investment in sectors such as tourism, technology, and sustainable infrastructure, while promoting sustainable manufacturing by leveraging local resources and attracting quality investments aligned with development goals.
Prince Faisal underscored the importance of aligning the G20’s efforts with the 2030 Sustainable Development Goals to achieve inclusive and balanced economic growth that enhances human well-being and preserves resources for future generations. He also called for curbing illicit financial flows, strengthening countries’ capacities to manage resources efficiently, and enhancing international cooperation to share expertise and best practices for building resilient and transparent financial systems.
The Saudi minister noted that contemporary global challenges transcend borders, requiring genuine international solidarity and multilateral cooperation in the face of rising inequality, economic volatility, and geopolitical tensions. He emphasized the critical role of G20 countries in coordinating economic policies, enabling sustainable investment, developing industrial strategies, and protecting vulnerable nations from the impacts of financial and economic crises.
