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UAE charts path to global economic recovery in third G-20 Sherpa meeting

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ABU DHABI, 1st October, 2020 (WAM) — Ahmed Ali Al Sayegh, UAE Minister of State, participated in the third Group of 20 (G-20) Sherpa meeting, held virtually from 29-30 September 2020.
The UAE attended in its capacity as a guest invitee at the G-20 Summit, which will take place virtually in November 2020.
The meeting, which also saw the participation of Abdulnasser Alshaali, Assistant Minister for Economic and Trade Affairs in the Ministry of Foreign Affairs and International Cooperation, was the first to be dedicated to the discussion of the G-20 Leaders’ Declaration and building consensus around the outcomes of Saudi Arabia’s G-20 Presidency.
Sherpas also received an update on the work of the various G-20 Engagement Groups, EMPOWER, and the G-20 Finance Track. The G-20 Leaders’ Declaration is likely to cover the importance of global coordination in overcoming the challenges posed by the COVID-19 pandemic. Additionally, G-20 members have emphasized the criticality of promoting long-term economic recovery in a manner that is both sustainable and inclusive, addressing the needs of women, youth, disabled persons and disadvantaged groups.
Commenting after the meeting, Al Sayegh praised Saudi Arabia for its leadership in leveraging the G-20 as a platform to coordinate global efforts that aim to secure equitable access to health services, strengthening the fight against the pandemic. "The UAE agrees on the importance of ensuring that there is affordable and equitable access to the COVID-19 vaccine, as well as diagnostics and treatment.’’ Al Sayegh also stressed the need to ensure that the Leaders’ Declaration delivers on the expectations of smaller or more vulnerable countries, since "many Small Island Developing States and developing countries face the twin challenge of securing energy access while having to be at the forefront managing the effects of climate change."
In the run-up to the Leaders’ Summit in November, G-20 Members and invited countries have participated in more than 24 Ministerial meetings, 74 Working Group meetings and 38 side events. In addition, the first-ever G20 Leaders’ Virtual Summit took place on 26 March, where participants committed to taking decisive actions on the economy, health, trade, and investment.
In December 2019, the Kingdom of Saudi Arabia invited the UAE, in its capacity as current Chair of the GCC, to engage in the 2020 G-20 process. This Third Sherpa Meeting followed the Second Sherpa Meeting, which took place on Thursday 12 March, as well as the Second Extraordinary Sherpa Meeting, which took place on Friday 24 July.
Established in 1999, the G-20 Summit is an annual gathering of representatives of the world’s largest economies that works to strengthen international economic cooperation. This year’s theme under Saudi Arabia’s G-20 presidency is "Realising Opportunities of the 21st Century for All," with the broad aims of "Empowering People, Safeguarding the Planet, and Shaping New Frontiers."