On 22 February, His Highness Prince Faisal bin Farhan bin Abdullah, the Minister of Foreign Affairs, participated in the second session of the G20 foreign ministers' meeting in Rio de Janeiro, Brazil. The session was titled "Global Governance Reform."
His Highness the Minister of Foreign Affairs, delivered a speech at the session in which he stressed the importance of reforming global governance, which makes multilateral frameworks more effective. His Highness noted that the G20 has been a vital platform for leading economies to enhance cooperation and better coordinate efforts to tackle pressing global issues.
His Highness Prince Faisal bin Farhan said that the global economy is more interconnected than ever before. It is a joint interest to resist economic fragmentation and trade restrictions that hinder growth and impact development, explaining the importance of strengthening multilateral trading systems, referring in this regard to the Riyadh Initiative on the future of the WTO, endorsed by G20 leaders during the Kingdom's Presidency in 2020, in addition to the importance of alleviating the escalating pressures on developing countries through a coordinated, global response.
His Highness explained that the Kingdom attaches high priority to implementing the G20's Common Framework in all sectors to reform global governance and address asymmetries in international order.
His Highness implied the opportunities to encourage further dialogue and cooperation globally and work towards restoring trust and credibility in international organizations, calling for this process to include improving transparency, inclusivity, representation, and equal application of international law so that key institutions (such as the UN Security Council) can be more effective in decision-making and addressing shared challenges.
The meeting was attended by Dr. Faisal Ghulam, Saudi Arabia's Ambassador to Brazil and the Assistant Director-General of the Office of His Highness the Foreign Minister.
