Brisbane, Asharq Al-Awsat—The lack of solutions to ongoing conflicts in the Middle East are threatening stability in the region and beyond and hindering global economic growth, Saudi Arabia’s Crown Prince Salman Bin Abdulaziz said on Saturday during his speech to world leaders at the G20 Summit in Brisbane.

Speaking on behalf of Custodian of the Two Holy Mosques, King Abdullah Bin Abdulaziz, Prince Salman—who is also the Kingdom’s Deputy Prime Minister and Defense Minister—said that a “lack of a fair and comprehensive” solution to the Israeli–Palestinian conflict, and the ongoing crisis in Syria, were leading to the increase of “polarization and the spread of violence and terrorism in the region.”

Prince Salman called on the leaders gathered at the summit and the international community as a whole to “cooperate and work together” to find solutions to these problems, which would in turn help promote “our common goal of strong global economic growth.”

He added that Saudi Arabia was supporting all efforts to improve security, stability and peace in the region and beyond.

Prince Salman also spoke of global energy markets, and maintained that the Kingdom was continuing its “positive and effective role” in promoting the stability of these markets, particularly through its efforts within the global oil markets, where it works to safeguard the “interests of both energy producers and consumers.”

He added: “For this reason, the Kingdom has invested a great deal to maintain its production levels in order to promote the stability of global energy markets, in turn promoting global economic growth and stability.”

The Crown Prince also maintained that the Kingdom was committed to providing reliable energy sources, “at reasonable prices,” in order to help developing countries meet their energy needs.

He stressed the role of fossil fuels such as petroleum in helping provide sources of energy at affordable prices for these countries, which in turn helps relieve poverty, promote their growth, and subsequently contribute to global economic growth.

Prior to his speech, Prince Salman was greeted by Australian Prime Minister Tony Abbott upon his arrival at the Brisbane Convention and Exhibition Centre, where the summit is being held.

The Crown Prince and Abbott discussed many of the topics due to be tackled at the summit and ways to improve relations between the two countries as well as issues of mutual interest.

Also accompanying the Crown Prince on the visit is Prince Mohammed Bin Salman Bin Abdulaziz, Head of the Court of the Crown Prince; Saudi Finance Minister Ibrahim Al-Assaf; and State Minister for Foreign Affairs Nizar Madani.