Media Briefing Highlights Oman’s Participation in G20 Meetings in India

Muscat: Oman’s Secretariat for the G20 Meetings and a number of relevant government departments organized a media briefing at the Diplomatic Club in Muscat today about the Sultanate of Oman’s participation in the 18th round of G20 meetings, held in India, to forge solutions to international issues.

The G20 meetings bring together leaders and operators who seek ways of enhancing dialogue between the largest industrialized countries with economies that support global growth.

Since its foundation, the G20 has assumed a protocol to invite other countries as participating guests to help invigorate geographical balance so that it could include all regions of the world. The group operates along two parallel tracks. The first track focuses on financing and it is led by finance ministers and central bank governors. The second track (Sherpa Track) pertains to generating opportunities for growth and influencing relevant economic and social policies.

Pankaj Khimji, Advisor at the Ministry of Commerce, Industry and Investment Promotion, Head of Oman’s Secretariat for the G20 Meetings, said that India has sent a special invitation to Oman to participate in the G20 meetings. The invitation constitutes an important opportunity for participation in this international governmental forum of the most important world economies, said Khimji, noting that participation in the event offers a chance for enriching areas of knowledge by exchanging expertise and highlighting efforts made to realize the objectives set out by the group.

The invitation also consolidates Oman’s position as an active partner at the regional level, besides strengthening partnership with the international community, Khimji affirmed.

He pointed out that Oman will garner a host of benefits from its participation in the G20 meetings, which address major common issues such as investment, international trade and supporting small and medium enterprises (SMEs) by providing financing. This is in addition to establishing unified platforms for cooperation in resolving international crises and achieving global stability, said Khimji.

The meetings introduce the procedures, mechanisms, policies, regulations, incentives, programmes and initiatives that influence the G20 business system.

In the run-up to the event, Oman held many preparatory and coordination meetings with relevant government institutions, said Khimji, noting that a special committee was formed to oversee Oman’s participation in the G20 meetings.

He added the members of the committee included the Foreign Minister, the Minister of Finance and the Minister of Commerce, Industry and Investment Promotion. The committee devised an action plan and a programme to follow up the outcomes of meetings of the group task teams, as well as the agenda of topics to be discussed by the G20, he explained.

Khimji stressed that Oman’s participation in the G20 meetings provides positive opportunities to expand the country’s network of relations with countries, governments and international organizations. The meetings pave the way for Oman to establish direct channels of communication and explore inroads for bilateral and multilateral cooperation in the fields of trade, energy, tourism, culture, health and others in line with Oman Vision 2040, he said.

For his part, Faisal Ali Al Hinai, Director of Investment Projects’ Monitoring and Evaluation Department at the Ministry of Commerce, Industry and Investment Promotion, said that Oman, through its participation in the G20 meetings, studied the most important economic challenges and proposals for solutions that would contribute to realizing target global goals.

Reciprocating the view, Dr. Salim Ahmed Al Jahwari, Director General of the Macro-Financial Policies Unit at the Ministry of Finance, stressed that Oman’s participation in the G20 meetings provide a new track to build strong relations with the participating countries and learn about the best international practices used to improve the financial system and manage public debt. – ONA