Monday 14 November 2022 – 10.50am
BALI, November 14th, WAM/ Bali Island, Indonesia prepares to start the activities of tomorrow’s G20 Leaders’ Summit, with the participation of 19 countries, European Union representatives and honorary countries, among including the United Arab Emirates, at the Kempinski Hotel in Nusa, where the island was decorated with flags, banners, flowers and mangroves.
Hosting the G20 summit in Bali is a great opportunity for Indonesia to generate momentum to revive the tourism and creative economy sectors. Indonesia calls on the world to work together to recover from the epidemic and build the world sustainably.
Indonesia, the host country of the summit, plays an important role in setting the agenda and organizing the Leaders’ Summit, having assumed the presidency of the G20 last November following the conclusion of the G20 summit in Italy, which is the first time whereas Indonesia has hosted the summit since its inception in 1999.
The G20 Summit, which will take place over 15 and 16 days, will address agriculture, the fight against corruption, the digital economy, sustainable energy, investment, employment, health, the environment, development, but also trade, digital payment systems, finance sustainability, financial inclusion and international taxation.
Today, Monday 14 November, the G20 witnessed interactive discussions on progress in sustainable growth, equitable financing for transition and sustainable energy in Asia, the benefits of sustainable financing of sukuk, the post-COVID-19 world, the leveraging innovations for future growth, on digital payments and digital transformation.
The G20 list includes: US, Russia, China, France, India, UK, Italy, Japan, Germany, Canada, Mexico, South Africa, Saudi Arabia, Argentina, Australia, Brazil, Indonesia, South Korea and Turkey . a number of countries as guests of honour, led by the UAE, and a group of international organizations, including the Food and Agriculture Organization (FAO), the International Monetary Fund, the World Bank, the International Labor Organization, the Organization for Economic Co-operation and Development, the World Health Organization and the World Trade Organization.
The G20 summit will be held in 2023 in India and in 2024 in Brazil. The G20 aims to address global issues relating to the economy.
The G20 accounts for 80% of world economic output, two thirds of the world’s population and 75% of world trade.
The Group of Twenty was established in 1999 after the occurrence of the economic crisis in Asia. The summit was held at the level of finance ministers and central bank governors. After the global financial crisis, the level of meetings was raised to attendance of Leaders The first Leaders’ Summit was launched in Washington in November 2008. The group’s focus and discussions expanded to include financial and economic issues.
Dina Omar / Bassam Abdel Samie
