The Minister of Finance Dr. Ibrahim bin Abdulaziz Al-Assaf
Brisbane - SPA
The Minister of Finance Dr. Ibrahim bin Abdulaziz Al-Assaf met, in the presence of Minister of Hajj and Acting Minister of Culture and Information Dr. Bandar bin Mohammed Hajjar, the Governor of the Saudi Arabian Monetary Agency Fahd bin Abdullah Al-Mubarak, and Saudi Ambassador to Australia Nabil Al Saleh, with Saudi media delegation covering the activities of Group of Twenty Summit, including the head of the delegation the President of Saudi Press Agency, editors-in-chief of Saudi newspapers, writers and delegations of Commissions of Saudi Press Agency and Radio and Television.
In a meeting following the conclusion of Group of Twenty Summit in Brisbane, Australia today, the Minister of Finance stressed that heading the delegation of the Kingdom of Saudi Arabia to the Summit by Crown Prince Salman bin Abdulaziz Al Saud, Deputy Premier and Minister of Defense, on behalf of the Custodian of the Two Holy Mosques King Abdullah bin Abdulaziz Al Saud, had a significant impact as his meetings with the leaders of major countries have discussed issues relating to the Group of Twenty, noting that the Kingdom is an active member in this global economic group, and pointing to the Kingdom's keenness during the meetings to clarify its positions and points of view to maintain its interests.
The Minister said that the Kingdom's speech delivered by the Crown Prince in front of the leaders of delegations of the Group of Twenty highlighted the Kingdom's views towards the global economy, support for developing countries, and petroleum policies.Dr. Al-Assaf pointed out that the international economic situation is not well due to slow growth, particularly in Europe, and growth slower than the rate in China and Japan, saying "There are countries whose economic situations are good and contribute to this growth more, like the United States of America and a number of countries including the Kingdom where the economic growth is good and exceeds 4 percent.
The Minister of Finance said, "The leaders of Group of Twenty stressed the importance of investment to bridge the gap between the demanded and implemented projects through the adoption of supportive policies for investment and stimulating of financing in infrastructure, both in developed or developing countries and partnership between the public and private sectors. The Leaders welcomed the Australian initiative to create an infrastructure center; and due to the importance of the subject and as the Kingdom is working on implementing an ambitious investment program whose priorities include infrastructure, the Kingdom has supported its establishment and a royal approval has been issued to contribute to it an amount of four million dollars for the next four years, a period of the first phase of it. "Dr. Al-Assaf dealt with the subject of energy for the poor, pointing out that this subject concerns the Kingdom and it has received attention from the leaders of countries in support of this subject and its follow-up with international institutions, Saudi Fund for Development and regional institutions to help poor countries, especially in Africa, to get the appropriate energy which is less expensive for these countries.
On the issue of renewable energy and carbon dioxide emissions and their impact on climate change, he said that the Kingdom and other countries affirmed that it has another area of discussion as it relates to other procedures.