Cairo-Important files submitted by Saudi Arabia before the G20 meetings were numerous. And since the Kingdom is the world’s top oil producer, files tackling energy, environment and economy topped KSA’s proposals for the most prominent economic group in the world.
The group of industrial countries and other countries that actively contribute to the world economies represent 90 percent of the total Gross National Product of the world countries and 80 percent of the world’s trade value; in addition to representing two thirds of the world’s population.
Saudi Arabia’s membership in the G20 comes as a result of the vital roles it increasingly plays in setting global oil prices, providing energy resources and stimulating international trade, which has a major impact on world countries.
Saudi Arabia also boosted its financial resources that are expected to further increase in the future, thus contributing to greater importance of the Kingdom in global economy.
Therefore, financial policies adopted by the Kingdom do not only affect its economy but also have a critical influence globally since they affect world trade and transactions to foreign countries and the investment policy in the global securities.
This wide ripple effect the Kingdom could cause by its economic role contributed to categorizing it among the world’s best emerging economies along with major emerging countries such as China, India and Turkey, especially with the economic significance Saudi Arabia represents in the Gulf region, Middle East and Arab countries.
In addition to that, the Kingdom possesses the world’s second largest sovereign investment fund and the first among Arab countries.
Saudi Arabian Monetary Agency includes Saudi assets that are distributed around the world, including emerging and developed markets; thus, the Kingdom’s investment decisions are of exceptional importance.