Industry, Logistics & Shipping

B20 Summit issues G20 urgent call to action

The Business Twenty (B20) Saudi Arabia, the official voice of the private sector to the G20, concluded the B20 Summit bringing together global leaders to issue a call to action to the G20 as countries deal with the impact of the Covid-19 pandemic.
With the aim to reinvigorate the global economy and build the foundation for a more equitable world, the B20 officially delivered at the event its set of 25 policy recommendations to the G20, represented by, on behalf of the Custodian of the Two Holy Mosques King Salman Bin Abulaziz Al Saud, the Saudi Minister of Investment, Khalid Abdulaziz Al-Falih.
"This year was like no other in B20 history due to the coronavirus pandemic. However, the priorities we identified before the outbreak, including trade and finance, digitalisation, labour, climate and compliance, are every bit as important today," said Yousef Al-Benyan, Chair, B20 Saudi Arabia. "The crisis reinforced the importance of solving these issues through inclusive policymaking while underscoring the need for a coordinated international effort that supports the most vulnerable including MSMEs and women, and the Sustainable Development Goals. I urge the G20 Leaders to adopt these critical policy recommendations to advance an inclusive and sustainable agenda that creates a legacy for 2020 and beyond." 
The G20 representative on behalf of the Saudi King, Al-Falih said: "I would like to congratulate the leadership of the B20 and its members, especially for your proactive recommendations in light of the expectations of a second wave of the pandemic and the attention you have paid in the most pressing issues in the global economy."
Over the course of two days, leaders from business, government and multilateral institutions addressed a host of issues including free trade, adoption of sustainable practices and the creation of opportunities for women in business to build a more prosperous future under the theme 'Transforming for Inclusive Growth'. 
B20 Summit speakers included Princess Reema Al Saud, Saudi Arabia Ambassador to the US; Kristalina Georgieva, Managing Director, International Monetary Fund (IMF); Gordon Brown, former UK Prime Minister; Patrick Pouyanné, CEO, Total; Amin Nasser, President and CEO, Saudi Aramco; Carly Fiorina, Chairman, Carly Fiorina Enterprises; Ajay Banga, President & CEO, Mastercard; and Bill Winters, CEO, Standard Chartered Bank, amongst other prominent business leaders from G20 countries.
With the completion of the B20 Summit, the group will continue to advocate for its bold, action-oriented policy recommendations ahead of the G20 Leaders' Summit in November, and plan for the official handover to the next host country, Italy. -- Tradearabia News Service