WHAT IS G20 SUMMIT ? & WHAT IS THE FEATURES OF THE G20 SUMMIT ?

The G20 (Group of Twenty) summit is an international forum for the governments and central bank governors from 19 countries and the European Union. It was established in 1999 to bring together major advanced and emerging economies to discuss key issues related to the global economy.

The countries that are members of the G20 are Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, Mexico, Russia, Saudi Arabia, South Africa, South Korea, Turkey, the United Kingdom, and the United States. The European Union is also a member, represented by the European Council and the European Central Bank.

The G20 holds an annual summit where leaders of member countries meet to discuss issues related to global economic growth, international trade, financial stability, and other important issues. The summit provides an opportunity for countries to coordinate policies and work together to address common challenges and promote sustainable economic growth. The G20 has become an important platform for international economic cooperation and decision-making.


The G20 (Group of Twenty) is an international forum for the governments and central bank governors from 19 countries and the European Union. The G20 presidency rotates among its members on an annual basis.

As of May 2023, the G20 presidency is held by Indonesia, and the President of Indonesia, currently Joko Widodo, serves as the Chair of the G20. The next G20 presidency will be held by India in 2024.

The G20 summit was born out of the financial crisis that emerged in the late 1990s and early 2000s. In response to the crisis, a group of finance ministers and central bank governors from 19 countries and the European Union came together to discuss ways to stabilize the global economy.

The first meeting of this group, which was then known as the G20 finance ministers and central bank governors, took place in Berlin, Germany, in 1999. The group continued to meet annually, and in 2008, during the height of the global financial crisis, the G20 leaders (including heads of state and government) held their first summit in Washington D.C.

The G20 quickly became a key forum for international economic cooperation and decision-making, bringing together the leaders of the world's largest economies, representing over 80% of global GDP, to discuss issues related to global economic growth, financial stability, trade, and other related topics. Since then, the G20 has continued to hold annual summits, with each host country setting the agenda and priorities for the year.


The G20 summit is a high-level meeting of the leaders of the world's largest economies. Here are some key features of the G20 summit:

  1. Members: The G20 consists of 19 countries and the European Union, representing over 80% of global GDP and two-thirds of the world's population. The member countries include Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, Mexico, Russia, Saudi Arabia, South Africa, South Korea, Turkey, the United Kingdom, and the United States.

  2. Annual meeting: The G20 leaders meet annually to discuss issues related to global economic growth, financial stability, trade, and other related topics.

  3. Host country: Each year, a different member country hosts the G20 summit and sets the agenda and priorities for the year.

  4. Focus on cooperation: The G20 is a forum for international economic cooperation and decision-making. The leaders of the member countries work together to address global economic challenges and promote sustainable and inclusive growth.

  5. Outreach: In addition to the G20 members, the summit also includes outreach groups that represent the interests of non-member countries, international organizations, and civil society.

  6. Joint communiqué: At the end of each summit, the G20 leaders issue a joint communiqué outlining their commitments and plans for addressing the challenges facing the global economy.

  7. Side meetings: In addition to the main summit, G20 leaders also hold a series of bilateral and multilateral meetings on the sidelines to discuss specific issues or concerns.

Overall, the G20 summit is a platform for leaders to engage in dialogue, promote cooperation, and advance policies that support sustainable and inclusive economic growth


Comments

Post a Comment

Popular posts from this blog

DISASTER MANAGEMENT OF ODISHA ; INSPIRATION FOR THE WORLD. BY BULU

Image
Odisha is a state located on the eastern coast of India and is prone to cyclones, particularly during the monsoon season. The state has a history of being hit by severe cyclones, such as the Super Cyclone of 1999, which caused significant damage and loss of life. Before the Super Cyclone of 1999, Odisha did not have a robust disaster management system in place. The state government did not have a clear understanding of the threat posed by cyclones, and the response mechanisms were inadequate. As a result, the Super Cyclone of 1999 caused widespread devastation, with over 10,000 people losing their lives and millions of people being displaced. After the Super Cyclone of 1999, Odisha took several measures to improve its disaster management system. The state government established the Odisha State Disaster Management Authority (OSDMA) in 1999 to coordinate disaster management efforts. The OSDMA is responsible for planning and implementing disaster management activities and providing relie...
Read more