Saudi Arabia has acquired considerable weight in the G20, mainly, because of its support for the causes of Arab, Islamic and other developing countries in the group, Al-Assaf said.

“The Kingdom’s financial clout and political weight influence decisions taken by the G20,” the minister added.

He underscored the importance of the decisions of the summit as they would influence not only the member countries but also the economies of the countries outside it.

“An action plan has been drawn up to aid poor countries according to which the group’s members and nonmembers will strive to offer more help to developing countries,” he added.

A major decision of the summit was to strictly monitor global finance.

Irregularities in the banking sector was a major factor that led to the global economic downturn in 2008. The monitoring will cover major banks and establishments that influence the general financial performance, world economy and exchange rates.

The meeting also stressed the need to avoid financial and monetary policies by member countries that would slow down global economic growth.

As an active member of the group, the Kingdom held a workshop on energy in Riyadh three weeks ago. The workshop’s focus was on the importance of energy security by ensuring adequate supply to meet the demand of oil, which could be achieved by consumer countries with policies that would not lead to a drastic fall or destabilization of oil demand, he said.

The minister ruled out the possibility of expanding the membership of the group.

“However, nonmembers are invited to attend the group’s meetings,” he said.