‘An important arena for cooperation in a more polarised world’

‘This is a time of great global instability and unpredictability, with increased tensions between the major powers, multiple wars unfolding, and trade barriers being erected. What we need is more cooperation between countries. The G20 is an important arena for cooperation. Norway’s role as a G20 guest country has given us greater opportunity to exert influence on issues of international importance,’ said Prime Minister Jonas Gahr Støre.

Bringing together the world’s major economies

The G20 comprises the world’s 19 major economies plus the EU and the African Union (AU). The G20 plays an important role in dealing with global crises and driving important international processes forward, as was made clear, for example, during the 2008 financial crisis and the COVID-19 pandemic, and in connection with the establishment of the Green Climate Fund. Over the past two years during which Norway has been a G20 guest country, a number of Norwegian government ministers have contributed to the work of the G20.

‘As a G20 guest country these past two years, we have worked to promote Norway’s trade and economic interests. Norway is one of the world’s leading countries when it comes to equitable distribution of social and economic goods, and we have a taxation system that is designed to provide optimal benefit to society. We have presented Norwegian solutions in a wide array of areas, ranging from carbon capture and storage to how to manage natural resources in a way that benefits the country as a whole. We have also highlighted the importance of taking steps to protect children and young people online,’ said Mr Støre.

The Prime Minister views the selection of Norway as a G20 guest country as an acknowledgement of Norway’s active international engagement.

Safeguarding Norway’s interests

‘Stability in the world economy is particularly important for a country like Norway, which exports most of what it produces. Our participation in the G20 enables us not only to work actively to achieve closer economic cooperation at the global level, but also to ensure that the interests of small, open economies are addressed. Our efforts are noticed and appreciated, and have led to Norway being included in important processes outside the G20 as well,’ said Mr Støre.

This year, South Africa holds the G20 Presidency, as the first African country ever to do so. South Africa has focused attention on issues that are important to the African continent, such as the debt burden of poor countries, food security and the need to mobilise finance for the energy transition.

Important for poor countries

‘The issues South Africa has elevated are matters of global importance. As a guest country, Norway has actively supported the goals of the South African Presidency. Among other things, agreement was reached on measures to help poor countries manage their debt burdens. At a difficult time for international economic cooperation, this sends an important signal that all the G20 countries are committed to working together to address global debt challenges,’ said Mr Støre.