Saudi Arabia will be represented at the meeting of the G20 trade ministers opening in Sydney on Friday.

Commerce and Industry Minister Dr. Tawfiq Al-Rabiah, who arrived in Sydney on Wednesday, will lead the Saudi team at the two-day meeting.

On arrival, the minister was received at the Sydney International Airport by Dr. Hassan bin Mohammed Al-Ansari, acting charge d’ affaires of the Saudi Embassy in Australia, Dr. Abdulaziz bin Taleb, Saudi cultural attache, and a number of Australian officials.

The meeting is being held in preparation for the Group of Twenty (G20) Leaders Summit, which will take place in Brisbane in November.

It is the principal forum for international economic cooperation and decision-making.

The event, planned at the Brisbane Convention and Exhibition Center on November 15 and 16, is expected to attract more than 4,000 officials and 3,000 media representatives from around the world.

The G20’s permanent membership comprises 19 of the world’s most powerful countries plus the European Union.

Guest countries including Singapore and New Zealand, and international organizations are also taking part.

As an annual event, the G20 gives world leaders the chance to share ideas and outline visions regarding key international issues.

G20 is the most significant international event held in Brisbane since the 1982 Commonwealth Games and Expo 88.

It will showcase Brisbane as a world-class destination for business, tourism, education and events

Australia, the current chair of the G20, wants western countries to continue cooperating with Russia within the G20 framework, according to Prime Minister Tony Abbott .

“The G20 is an economic forum, but not a forum on security issues. Therefore the opportunities for cooperation in the field of economy remain stable regardless of what one country can think of other countries or their actions on the geopolitical arena,” Euronews quoted Abbott as saying in a recent speech.

“And I intend to encourage the economic cooperation within the G20,” the premier said.

Saudi Arabia is a prominent member of the G20 and the leading state in the Middle East and North Africa.

It is also the 11th among the 181 countries in the world, in terms of ease of business practicing, according to the “Business Practice Performance” report for 2010, issued by the IFC, an affilliate of the World Bank.

The Kingdom is the largest free economic market in the Middle East.

It holds 25 percent of the total Arab GDP. Saudi Arabia has the largest oil reserves in the world (25 percent) and it provides energy for investment projects, with its resolute commitment to moderate prices, it kept being the ideal destination for energy projects, as well as promising mining.

Saudi market also has a high purchasing power as the local market is witnessing rapid and fast accelerating and continuous expansion.

The Kingdom is one of the fastest growing economies in the world. The per capita income is expected to increase to $33,500 by the year 2020 from $20,700 in 2007.

The Saudi Riyal is considered to be among the most stable currencies in the world.

Russia hosted the G20 summit last and the presidency will pass to Turkey in 2015.