Saudi Arabia underscores enhancing international economic cooperation amid evolving global challenges

FLORIDA — Deputy Minister of Finance for International Relations Khalid Bawazier headed Saudi Arabia’s delegation participating in the third meeting of the G20 Finance and Central Bank Deputies, held in Fort Lauderdale, Florida, in the United States on May 14-15.‏Speaking at the meeting, Bawazier commended the progress achieved during the G20 Finance Track meetings this year. He emphasized the importance of maintaining focus on practical and actional outcomes, particularly with regard to, supporting sustainable growth, strengthening coordination among creditors in sovereign debt issues, and enhancing international economic cooperation amid evolving global challenges. ‏The meetings also included a dialogue session attended by prominent players from the American private sector with the aim of discussing solutions to enhance the role of the private sector in promoting economic development. The participants from the private sector noted that the Kingdom is one of the successful examples through setting a clear vision, which in turn motivates the private sector to invest and work jointly with countries. ‏The meetings featured extensive discussions on global economic developments, sustainable growth, sovereign debt challenges, and global imbalances, as well as ways to address the associated risks through strengthened international cooperation. ‏The United States assumed the G20 presidency from South Africa starting in December 2025. The U.S. presidency focuses on three main areas, including launching economic prosperity by reducing regulatory burdens, securing reliable and affordable energy supply chains, and pioneering new technologies and innovations.