JEDDAH: International cooperation and multilateral trade are key to economic recovery in the post-COVID-19 world, according to the G20’s think tank engagement group, T20.
The members of the group took part in an online seminar on Wednesday, during which they discussed the effects of the pandemic on economies around the world. During the virtual gathering, Fahad Al-Mubarak, Saudi Arabia’s G20 sherpa, highlighted the role of the group and the spirit of cooperation among its members.
“The T20 is an important and integral part of the G20 family, and we look to you to offer us independent thoughts, ideas and recommendations,” he said.
“Most of our challenges globally require our cooperative efforts. We are planning to develop several solutions, restore sustainable growth and create employment opportunities for those who lost their jobs because of this pandemic.”
Al-Mubarak noted that in the aftermath of the 2008 global financial crisis, the G20 implemented important initiatives to develop stronger global financial and banking systems.
“This strong banking system has actually helped us this time,” he said. “If the banking system had been weak, it would have been a compound disaster because of this pandemic. However, because we have stronger banks now, we are able to sustain the consequences of the pandemic with more resilience.”
The seminar included a session devoted to the T20’s Task Force 1: Trade, Investment and Growth, which was co-chaired by Shura Council member Said Al-Shaikh. It focused on four themes: trade reform, subsidies and tax, digital technologies and investment, and the fourth industrial revolution.
Al-Shaikh said that the pandemic presents an additional challenge on top of the existing challenges the global trading system was facing, which arise from protectionism, equal access to global value chains, and legal issues related to digital trade and services.
The pandemic has influenced the task force’s policy recommendations, he added.
“There is a message that WTO (World Trade Organization) reform is possible despite the challenges that undermine its existence now,” he said. “The task force believes that the pandemic has demonstrated that the multilateral trade system is needed more than ever, to minimize disruptions to (the goods and services needed) to meet upcoming health and economic challenges.”
The task force members said a revival of economic activity is possible, but added that while governments and central banks in G20 countries have been working on fiscal policy stimulus initiatives and monetary policy recommendations to support their economies, fair trade policies and measures to stimulate global economic growth must not be neglected.
The task force also emphasized the importance of keeping international markets open and stable, and of fostering more favorable business environments, especially for sustainable foreign investment, “to lessen the impact of the pandemic, particularly on primary material-based economies in developing countries.”
Martin Muhleisen, director of the International Monetary Fund’s Strategy, Policy, and Review Department, highlighted the importance of multilateralism and cooperation between governments.
“The crisis has shown the importance of multilateralism like never before,” he said. “Since the beginning, when we were all very concerned about health, markets and the future of the economy, what has always been uplifting is to sit together with colleagues from around the world in many of these multilateral meetings — whether within our institution, the IMF, or across international institutions or the G20, or in civil-society forums — and see everybody trying to figure out how to move forward on this issue, and how to solve the health crisis and prevent lasting economic damage.”
The IMF has been able to offer emergency financial assistance to countries that might otherwise experience great difficulties, Muhleisen said. So far, 102 countries have requested such aid.
“We have increased the access limits and we will probably increase them further for this type of assistance to help countries that have nowhere else to go at the moment,” he added.
Saudi Arabia holds the presidency of the G20 this year and the group’s annual summit is due to be held in Riyadh in November. The T20 if one of several independent engagement groups focusing on different sections and sectors of society, led by organizations from the host country, that develop policy recommendations for consideration by G20 leaders.
Multilateralism is key to post-COVID recovery, says G20’s think tank group
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Multilateralism is key to post-COVID recovery, says G20’s think tank group
- Members of the T20 engagement group gathered online to discuss economic effects of pandemic
- Nations must look beyond rebuilding their own economies and take a more global view, they advise
Saudi FM meets US envoy to discuss developments in Lebanon
- Explored collaborative efforts to address challenges facing Lebanese people and in broader region
RIYADH: Saudi foreign minister Prince Faisal bin Farhan met with Amos Hochstein, the US Special Envoy to Lebanon, on Sunday at the Ministry of Foreign Affairs headquarters in Riyadh.
The meeting focused on regional issues, with particular attention given to the situation in Lebanon, the Saudi Press Agency reported.
Both sides exchanged views on recent developments and explored collaborative efforts to address the challenges facing the Lebanese people and the broader region, SPA added.
Also in attendance was Prince Yazid bin Mohammed bin Fahd Al-Farhan, advisor to the Minister of Foreign Affairs for Lebanese Affairs, who contributed to the discussions.
Saudi leadership offers condolences after death of Jordan’s Princess Majda
- Princess Majda passed away in Amman on Jan. 3, the Royal Hashemite Court said
- Swedish-born princess was born Margaretha Inga Elisabeth Lind and became known as Princess Majda after her marriage.
RIYADH: Saudi Arabia’s King Salman and Crown Prince Mohammed bin Salman sent cables of condolences to the king of Jordan after the passing of Princess Majda Raad, Saudi Press Agency reported on Sunday.
Jordan’s King Abdullah attended the funeral of Princess Majda, the wife of Prince Raad bin Zeid, at the Royal Cemetery on Friday, The Jordan Times reported.
Princess Majda passed away in Amman on Jan. 3, the Royal Hashemite Court said. The Swedish-born princess was born Margaretha Inga Elisabeth Lind and became known as Princess Majda after her marriage.
New community initiative brings Saudi artisans together for ‘Year of Handicrafts’
- Workshops held for aspiring artisans and crafters
- Events will be held throughout the year
RIYADH: The Royal Institute for Traditional Arts launched a new community initiative on Saturday with a packed day of workshops and discussions with inspiring figures in the handicrafts field.
As 2025 kicks off with the Ministry of Culture labeling it the “Year of Handicrafts,” TRITA aims to bring a sense of camaraderie to artisans and aspiring crafters with its “Wrth Community,” which will host several events through the year.
Nermeen Al-Naimi, an artisan at TRITA, told Arab News: “Today, the community of Wrth started, so that’s very good for artisans because we are looking for somewhere we can belong.
“Wrth is the place we belong now with this community, it’s more like a second house for us because we exchange experiences, we exchange techniques and tools and stuff like that. It’s a growing kind of family, so we’re happy that they made this step today, and we’re grateful.”
(AN photos by Abdulrhman Bin Shalhoub)
The six-hour event brought artisans at various levels and from various crafts together for a day of engagement through workshops on traditional crafting with wood, metals, clay, and stones.
Silversmiths Ayat Dhahi and Revan Abdulsabour shared their expertise on sculpting and formation, from design to implementation, while others, such as sculptor Helwa Al-Atawi, shared success stories of turning a passion into a career.
Jewelry designer Rughad Al-Hogail weighed in with her entrepreneurial experience of taking local crafts to international markets.
Al-Naimi is an instructor for jewelry manufacture and design, but came to the inaugural Wrth event as a student, signing up for a wood-carving workshop that allows participants to identify the types of traditional engravings in the Najd region, and producing a wooden coaster using the technique with a copper inlay.
“I decided to go back to wood because I did clay before, and I did metals before, so I wanted to incorporate wood in my designs …
“It has metal in it, so, the experience was amazing because I use metal combined with wood, combined with a little bit of this technique.”
Other workshops explored traditional engraving methods, their use in the manufacture of innovative products, and employing traditional engravings in contemporary art.
Al-Naimi works as a personal branding consultant, and part of her job is to help individuals realize their hopes and connect with ways to energize themselves.
“One of the things that makes me happy is working with my hands. So working with metal, with wood, it’s all a stress relief. Plus you make something beautiful.”
Al-Naimi joined TRITA about two years ago, working with metals, but quickly found that it was more than just a space to create.
“Here at the Royal Institute, it’s support all the way — for the trainers, for the products; they have an online store now,” she said. Here students’ creations are up for sale at the physical location and online, creating profitable opportunities for aspiring and established artisans.
Wrth Community aims to lead the revival and development handicrafts, linking them to modern design and technology, enhancing the participation of institutions and the local community to highlight the importance of traditional arts in defining cultural identity, while also equipping people with ways to create traditional arts in today’s market.
Wrth Community provides opportunities for artisans to meet, exchange knowledge and enhance personal and professional skills with a focus on education, crafts, entrepreneurship, and dialogue sessions. By creating a supportive environment, TRITA hopes to stimulate talent and creative individuals to learn and practice traditional arts and crafts.
TRITA is a pioneering organization that highlights the national identity and enriches Saudi traditional arts locally and globally, promoting them and recognizing pioneers in the fields of traditional arts. This contributes to the preservation of traditional arts by supporting national capabilities and talents while encouraging those interested in learning, mastering and developing them.
KSrelief and UNHCR officials discuss enhanced humanitarian support in Syria
- An estimated 6.8 million Syrians remain displaced within the country, while more than 5.5 million have sought refuge in neighboring countries
DAMASCUS: Officials from the King Salman Humanitarian Aid and Relief Center and the UN High Commissioner for Refugees met in Damascus on Sunday to discuss coordinated efforts to assist the Syrian people, the Saudi Press Agency reported.
The meeting, focused on bolstering humanitarian and relief operations in the region, was attended by Abdullah bin Saleh Al-Harees, charge d’affaires of the Saudi Embassy in Syria.
During the discussions, UNHCR officials praised their strategic partnership with KSrelief, highlighting the importance of their joint initiatives to support refugees and displaced persons in Syria.
Both parties also reiterated their commitment to ensuring that vulnerable populations have access to essential resources and services to live with dignity.
The humanitarian crisis in Syria remains one of the most pressing in the world, especially after the fall of Bashar Assad’s regime in December of last year, following over a decade of civil war.
Assad’s ouster came after years of intensified international sanctions and a lightning offensive across key cities by opposition militias, culminating in his government’s collapse.
An estimated 6.8 million Syrians remain displaced within the country, while more than 5.5 million have sought refuge in neighboring countries such as Turkiye, Lebanon, and Jordan.
Humanitarian organizations like KSrelief and UNHCR play a crucial role in addressing these challenges, providing essential aid such as food, shelter, and medical care.
In Syria, UNHCR has been a critical player in responding to the humanitarian crisis, assisting the millions of displaced Syrians and advocating for sustainable solutions to their plight. Its collaboration with partners such as KSrelief has been key to addressing the evolving needs of those affected by the conflict.
On Sunday, Fadi Al-Qasim, the Syrian Minister of Administrative Development in the transitional government, met with the KSrelief team in Damascus in the presence of Al-Harees.
During the meeting, they discussed strategies for delivering relief aid to support the Syrian people and civil society.
Al-Qasim expressed his gratitude to the KSrelief team for their generous assistance and praised the urgent humanitarian aid provided by Saudi Arabia to Syria.
Saudi minister receives British ambassador to Riyadh
- They discussed bilateral relations and various topics of common interest
RIYADH: Saudi Arabia’s Deputy Minister for Political Affairs Saud Al-Sati received UK Ambassador to the Kingdom Neil Crompton in Riyadh on Sunday.
During the meeting, they discussed bilateral relations and various topics of common interest, the Foreign Ministry wrote on X.
Meanwhile, Pakistan’s Ambassador to the Kingdom Ahmed Farooq signed the condolence book honoring the life and legacy of former US President Jimmy Carter, the Embassy of Pakistan wrote on X on Sunday.
