Oman forges valuable alliances with diverse economies during G20 Summit

The Sultanate of Oman’s participation in the G20 Summit will reflect positively on the country’s economy, according to Pankaj Khimji, leader of the Secretariat of the Sultanate of Oman for the meetings of the Group of Twenty and Advisor to the Ministry of Commerce, Industry and Investment Promotion.

During a press conference to announce the updates of Oman’s role in the G20 summit, Khimji shared that Oman’s participation in the conference has allowed for unprecedented networking opportunities with diverse economies that will result in forging valuable alliances aligning with the country’s sustainable goals.

The Sultanate of Oman, in addition to nine other countries, were invited to participate in the 2023 summit hosted by India for the first time. The forum, known as the Group of Twenty, aims to address global economic issues, and comprises 19 member states and the European Union.

G20 members account for more than 80 per cent of global GDP, 75 per cent of international trade, and 60 per cent of global population.

The theme of this year’s forum is 'One Earth One Family One Future”, and aims to promote inclusivity through the summit’s two tracks: the Sherpa track, which addresses a diverse range of topics, and the financial track which targets global macroeconomic concerns.

Leader of the financial track and Director General of the Macro Fiscal Unit at the Ministry of Finance, Dr Salim al Jahwari, shared how the theme of inclusivity emerged during work group discussions.

According to Al Jahwari, working groups such as the financial and economic group framework emphasised the topic of security, in terms of food and shelter. Discussing how climate change affects food security and what can be done about it, and shelter security and creating inclusive sustainable cities.

Additionally, Al Jahwari delved into the topic of financial inclusivity and how multilateral institutions can enhance their performance.

According to the press conference, the Sultanate represented by over nine government entities, has participated in over 80 meetings thus far. Ministerial-level meetings are expected to take place this August, leading up to the final summit in September.