By Abdallah El-Ashaal Saudi Arabia is aware of its economic weight, which earned it admission into the G20. Often the Saudis use their international clout to argue the case of Arabs and Muslims everywhere. This was particularly true during the recent tour by King Abdullah of Canada, the US, and France. The only Arab member of the G20, Saudi Arabia was not selected for membership because of its Arab or Muslim affiliation, but because of its immense financial clout. The G20 includes 19 countries, with the 20th seat filled alternately by the EU and the European Central Bank. These countries are: Argentina, Canada, Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Mexico, Russia, South Africa, South Korea, Turkey, Britain, and the US. Taken together, the G20 makes up 90 per cent of world GNP, 80 per cent of international trade, and two thirds of the world's population. The G20 was formed in 1999 and holds summits as well as meetings for the financial ministers involved. Major officials from the World Bank, the IMF, and international financial organisations attend these meetings. The G20 draws up strategies for world reform in matters of finance and international economic cooperation. It is credited with maintaining balance in financial markets in times of economic turbulence. The Saudis are members since 1999, but their role has come to the fore since the economic crisis started in 2008. After attending the G20 meeting in Toronto, King Abdullah stopped over in Washington for talks with President Obama. The Saudis are known for their independent thinking on matters such as nuclear proliferation, Iran, Israel, and Sudan. In Washington, the king said that the Arabs could not stray from the Arab peace initiative. This was a reassuring statement, for attempts have been made to get the Saudis to recognise Israel and ditch the Arab initiative. As usual, the Saudis kept a steady hand on the wheel. This week's Soapbox speaker is former assistant to the Egyptian foreign minister.
