ISTANBUL

Saudi Arabia on Saturday called for strengthening international coordination and balanced sectoral approach to overcome global challenges and maintain prosperity and stability for all.

“Today, the world faces increasing levels of inequality and global economic turmoil that has left deep imprints on the lives of millions and led to an increase in regional and international tensions,” Foreign Minister Faisal bin Farhan Al Saud told the G20 summit in Johannesburg, South Africa.

The Saudi minister stressed that these global challenges “require continuous coordination and an integrated approach that balances economic development, environmental protection, and financial stability.”

“Despite the challenges of the global economy, the kingdom is continuing to work to build a sustainable global economy through its effective international partnership,” Prince Faisal said.

He emphasized the important role of G20 member states “in leading international efforts to enhance coordination between global economic policies, balanced growth, sustainable investments, and the development of industrial and economic policies that support stability and prosperity for all and contribute to the protection of the most vulnerable countries from the repercussions of financial and economic crises.”

The G20 leaders’ summit opened on Saturday in Johannesburg, with delegates gathering for two days of talks.

Established in 1999, the G20 comprises 19 countries and two regional bodies – the EU and the African Union.