Saudi Arabia Takes over G20 Presidency from Japan.

Saudi Arabia became the first Arab nation on Sunday, December 1st to take over the G20 presidency, stepping onto the world stage.

The oil-rich kingdom is promoting a liberalisation drive, the signs of which can be seen in granting greater rights to women and more transparency.

Saudi Arabia is taking over the G20 presidency from Japan and will host world leaders for a global summit in its capital Riyadh next November 21st and 22nd, AFP has reported.

The official Saudi Press Agency SPA said in a statement that the Kingdom of Saudi Arabia assumes the G20 Presidency today, leading up to the summit in Riyadh, in 2020.

The Saudi G20 presidency is committed to continuing the work from Osaka and promoting multilateral consensus, according to the statement.

Crown Prince Mohammed bin Salman, Deputy Prime Minister and Minister of Defence described it as a "unique opportunity" to shape international consensus.

In the run-up to the summit, Saudi Arabia will host more than 100 events and conferences, including ministerial meetings, SPA said.

"When Saudi Arabia assumes the G20 presidency, it will become the first Arab nation to lead this intergovernmental body," Dennis Snower, president of the think-tank Global Solutions Initiative, said in a statement.

This G20 presidency, Snower said, will be challenged by a central paradox in that global threats like climate change and demographic developments, such as low birth rates, rising life expectancy and aging societies are of paramount importance… but rising populism and nationalism are preventing progress at the multilateral level. (Source: 7dnews.com)