Prince Turki: Multilateralism key to a prosperous world

Prince Turki Al-Faisal, chairman of KFCRIS, addresses the inaugural session of the Think20 (T20) Inception Conference at Apex Center in Riyadh on Sunday. — SPA
Prince Turki Al-Faisal, chairman of KFCRIS, addresses the inaugural session of the Think20 (T20) Inception Conference at Apex Center in Riyadh on Sunday. — SPA

Saudi Gazette report

RIYADH — Prince Turki Al-Faisal, chairman of the Board of Directors of the King Faisal Center for Research and Islamic Studies (KFCRIS), emphasized that that the Kingdom’s hosting of the G20 Summit would contribute to promoting pluralism as well as to address global challenges that cannot be tackled single-handedly.

Addressing the inaugural session of the Think20 (T20) Inception Conference at Apex Center in Riyadh on Sunday, he stressed that multilateralism is the way to reach out to a prosperous world.

The T20, the research and policy advice network of G20, is holding the two-day Inception Conference under the direction of the two lead organizations of T20 Saudi Arabia: The King Abdullah Petroleum Studies and Research Centre (KAPSARC) and KFCRIS.

Around 500 experts and specialists, representing more than 65 research centers and organizations from the G20 countries and other parts of the world, are attending the conference, which is seeking to develop solutions for the G20 Summit themes.

The delegates are discussing a wide range of pivotal issues including climate and energy, women and youth, innovation and technology, multilateralism, economic development and finance, food security and access to water.

The conference began with the speech of Prince Turki, in which he drew attention to the fact that the G-20 should define criteria that are widely accepted and present recommendations to the leaders of the group on the extent of compliance with various pledges.

In his speech, Dr. Fahad Al-Turki, chair of T20 Saudi Arabia and vice president of research at KAPSARC, reviewed the Vision of Think 20 group and its goals in Saudi Arabia.

“It is a great honor for KAPSARC to co-lead the T20 Saudi Arabia. We look forward to constructive engagement with all relevant stakeholders to produce relevant and timely policy briefs,” he said.

The first day of the conference included many issues and challenges of global importance.

The participants discussed using multilateralism as an effective approach to solving global problems, as well as the opportunities provided by multilateralism and the challenges that they may face in the future.

The goal of the session constitutes a better and more sustainable future for all, and that underlies various sustainable development goals, first introduced by the United Nations Development Program in 2012.

The participants also discussed how to achieve prosperity beyond economic growth in pursuit of a prosperous, sustainable and inclusive future.

Discussions were also held, addressing the challenges posed by inequality, social disintegration, lack of empowerment, and opportunities to build a more inclusive and sustainable society.

There was also focus on the implications of managing the short-term and long-term goals of economic and environmental sustainability to produce and consume natural resources in order to define and propose paths for practical policies.

The conference noted that one of the main goals of social development is a society that provides opportunities for all. The first day of discussions ended with examining possible policy means that can reduce poverty and inequality while providing economic opportunities for all.

The T20 is an engagement group that contributes to the G20 by providing research-based policy recommendations to the G20.

The T20 communiqué presents vital policy recommendations developed by T20 Saudi Arabia task forces for consideration by the Leaders of G20 member countries during their summit in Riyadh in November 2020.