Saudi Arabia to host G20 in 2020
The final communique of the G20 summit, which was
held in in Buenos Aires, Argentina, confirmed that the summit will be held next
year in Japan, while Saudi Arabia will host the summit in 2020, Al Arabiya
reported on Saturday.
Saudi Arabia plays an important role in stabilizing
the global economy and is a key player in the stability of oil markets
globally.
Riyadh, the world's largest oil exporter, produced
10.7 million barrels per day in October, accounting for more than 10 percent of
world production, and boasts the largest weight among OPEC.
The Kingdom's appeal has grown after the launch of
Saudi Vision 2030, which aims to diversify the economy by implementing
ambitious reforms that have attracted the attention of global investors.
Saudi Arabia ranks third among the G20 countries in
terms of foreign reserves, with $507.2 billion after China and Japan.
