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Is this Gulf country going to host the G20 Summit 2020? Know here

By Anwesha Dash

The G20 (Group of Twenty) Summit 2020 will be held in Riyadh, Saudi Arabia through virtual means on November 21.

The G20 is an international platform whose purpose is to bring together important developing countries to discuss issues of the global economy. It comprises 19 nations and the EU. Since the 2011 Cannes summit, G20 Summit has become an annual affair. And this year as Saudi Arabia took over the presidency of G20, the summit will be held in the Gulf nation.

With the world swamped in a contagious pandemic the G20 Summit, like every other important meeting and gathering this year, will be held virtually. The leaders of all the 19 member countries and EU will convene together through virtual means to discuss issues related to “realizing opportunities of the 21st century” which is the theme of the Summit as announced by the host country. The Summit will focus on the damage caused to the demand for oil and gas, restoration of development, stabilization of the economy, protection of the public and the planet, and address the "vulnerabilities uncovered during the pandemic.”

Since the members of the G20 control 80% of world trade, it’s been speculated that this summit will bring forth a cohesion and balance to the tumultuous world economy. The kingdom also said in a statement that the G20 countries have contributed over 21 billion U.S.D for vaccine trials and access to health facilities. And have dispensed 11 trillion U.S.D to “safeguard the global economy”.