Communication and Financial Knowledge Center (CFKC), a Ministry of Finance initiative, held a webinar entitled “B20 Saudi Arabia- Objectives and Role” on Wednesday, 26 August 2020. The webinar was attended by Mr. Yousef Al-Benyan (Chair of B20 Saudi Arabia), Dr. Abdulwahab Al-Sadoun (Sherpa of B20 Saudi Arabia), Mr. Rayan Fayez (Finance and Infrastructure Taskforce Chair, B20 Saudi Arabia), Ms. Rania Nashar (Women in Business Action Council Chair, B20 Saudi Arabia). Media Consultant, Mr. Mahmoud Alshanqiti, moderated the webinar.
The webinar discussed three main themes; B20’s origins and objectives (one of the eight G20 Engagement Groups), B20 strategy and activities, and the post-2020 phase vision.
“G20 countries represent more than 80% of the world's GDP, 75% of the global trade, and 70% of the world's population. Its decisions have a profound impact, and it is creating momentum to strengthen reform efforts at national and global levels” Al-Benyan indicated.
B20 Saudi Arabia’s discussions aim at developing recommendations for effective and implementable policies, through the participation of all.
He described the participation of the Saudi businessmen and women during Kingdom’s presidency of G20 as remarkable, indicating that more effective participation efforts will be made in future, in addition to working with businessmen in Italy to transfer policies and recommendations to ensure sustainability, while ensuring that the Kingdom's influence remains sustainable in the upcoming presidencies of the G20.
The Sherpa of B20 Saudi Arabia Dr. Al-Sadoun stated that the B20 Business Group’s priorities reflects objectives set by the G20 and emphasizes impactful and differentiated policies. 28 recommendations have been worked on by the group and where applicable, distributed according to specific goals.
The Kingdom's presidency of the G20 witnessed a high participation rate of Saudis in the group's taskforce teams of 26%, the highest in the B20 sessions, stressing that the B20 was keen to leave an imprint on the Kingdom with policies adopted by the group.
Finance and Infrastructure Taskforce Chair of B20 Saudi Arabia, Mr. Rayan Fayez, stated that B20 Saudi Arabia acknowledged early the need for a collaborative approach in the global battle against Covid-19. In addition, adding that B20 group have released a statement containing recommendations to address the impact of Covid-19 to determine what governments should do in the future to chart a course of recovery and prepare for future crises.
“The B20 group's taskforce teams worked on developing a set of practical recommendations to overcome the pandemic for the G20, all based on the views of the global business community, and that many of them have been approved during their presentation to G20 leaders at the exceptional summit” he added.
Meanwhile, Ms. Rania Nashar, Women in Business Action Council Chair- B20 Saudi Arabia, stated that B20 group was distinguished by the highest participation rate of women in taskforce teams, amounting to 33.4%, most of which are Saudi; while the percentage of women chairpersons reached 43% for the first time in B20 history.
B20 is working on empowering women in their careers, while focusing on advancing reforms in countries with regard to gender equality and granting women full rights that ensure equal opportunities.
Businesswomen Council was established for the first time in the history of B20. The council worked on developing a roadmap to strengthen women’s roles in a number of areas, to ensure vital women’s participation in the business sector, empowering them in career path while obtaining fair opportunities in participation and employment.
This webinar comes within the framework of the CFKC’s efforts to enrich financial knowledge, exchange views and discussions and contribute to raising awareness about current issues. In addition to highlighting the Kingdom's international presence and its success with the G20 presidency this year and its role in coordinating the group’s efforts to support the global economy during this exceptional phase.
The webinar also comes within the frame work of the center's activities to monitor financial and economic developments, including holding virtual meetings that bring together a number of officials, specialists and investors in the economic and financial sectors, and carries out other activities, including: "Knowledge gathering" sessions, and daily media reports reviewing the most significant economic impacts resulting from the Corona virus locally and internationally.