Table of Contents
G20 Countries: The 18th G20 Heads of State and Government Summit took place in New Delhi, India. Group of Twenty Countries (commonly called G20 Countries) is a group of intergovernmental forums that comprises 19 countries and the European Union (EU). The G20 Countries aim to work to address key issues related to the global economy, such as international financial stability, climate change mitigation, and sustainable development.
G20 Countries
In addition to membership of these countries, there are also other forums or institutes participating in the meeting, namely, IMF, the World Bank, the International Monetary and Financial Committee and the Development Assistance Committee. The G20 Countries membership comprises a mix of the world’s largest advanced and growing economies.
Together, the G20 members represent almost 90% of the World’s GDP, 80% of international global trade, and 2/3 of the world’s population. This informal forum was formed in the year 1999 after several economic crises but from the year 2008, it was decided that the G20 summit would begin to convene once annually.
G20 Countries |
|
| Formation | 1999( But G20 Summits began in 2008 to convene annually) |
| Purpose | Policy coordination between its members in order to achieve global economic stability, and sustainable growth;
Promoting financial regulations that reduce risks and prevent future financial crises; Modernizing international financial architecture. |
| Membership | 19 Countries and European Union |
G20 Countries Names
The Group of Twenty (G20) comprises 19 countries (Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, Republic of Korea, Mexico, Russia, Saudi Arabia, South Africa, Türkiye, United Kingdom and United States) and the European Union. Have a look over the list of countries enjoying membership in G20:
Previous G20 Summits
In 1999, the G20 was created as a response to the Asian financial crisis. It was designed as a platform for Finance Ministers and Central Bank Governors to address worldwide economic and financial concerns. The G20 has since been recognized as the foremost forum for global economic collaboration and has been elevated to the level of Heads of State/Government. The first G20 Summit Meeting was held in 2008 in Washington DC (USA) and later on was held every year for which the complete list has been mentioned below.
| Previous G20 Summits | ||
| Year | Hosting Countries | Themes & Details |
| 2008 | Washington DC (USA) | The 2008 Summit was the 1st G20 Meeting which focuses on the theme “To prevent future financial crises, global economic governance needs reform to secure sustainable and balanced growth”. |
| 2009 | Pittsburgh (USA) | This summit mandated stricter banking regulations, including increased profit retention for capital building. G20 Summit 2009 has been referred to as the “London Summit”. |
| 2010 | Toronto (Canada) | The theme of the summit held in 2010 in Toronto (Canada) was “Shared Growth Beyond Crisis”. |
| 2011 | Cannes (France) | The 2011 G20 Cannes Summit was the sixth in a series of meetings among heads of government and heads of state of G20 countries to discuss financial markets and the global economy. |
| 2012 | Los Cabos (Mexico) | In 2012, Mexico prioritized economic stability, structural reform for growth and employment, strengthening financial systems, and promoting financial inclusion for economic growth during its G20 Presidency. Furthermore, Mexico aimed to enhance the international financial architecture in an interconnected global economy. |
| 2013 | St. Petersburg (Russia) | The G20 Summit held in 2013 focuses on 8 sectors- framework for strong, sustainable and balanced growth; jobs and employment; international financial architecture reform; strengthening financial regulation; energy sustainability; development for all; enhancing multilateral trade; and fighting corruption. |
| 2014 | Brisbane (Australia) | G20 Summit 2014 was held in Brisbane (Australia) with general themes including “global economy, financial regulation, poverty reduction and sustainable development”. |
| 2015 | Antalya (Turkey) | During the 2015 G20 Summit in Antalya, leaders addressed migration and refugee movements and issued a statement on fighting terrorism. |
| 2016 | Hangzhou (China) | The theme of the 2016 Summit China was “Towards an innovative, invigorated, interconnected and inclusive world economy”. |
| 2017 | Hamburg | Theme- “Shaping an interconnected world” |
| 2018 | Buenos Aires | “Building Consensus For Fair And Sustainable Development” |
| 2019 | Osaka (Japan) | The G20 Summit 2019 focused on key issues such as Trade and Investment; Excess Capacity of Steel; Digitalization; Data Free Flow with Trust; G20/OECD Framework on Base Erosion and Profit Sharing; Quality Infrastructure investment; Anti-Corruption; Climate Change; Energy; Environment; Displacement and Migration. |
| 2020 | Saudi Arabia | The theme of G20 Summit 2020 was “Realising Opportunities of the 21st Century for all”. G20 Summit Saudi Arabia 2020 was the first-ever virtual Summit in the history of G20. |
| 2021 | Italy | G20 Italy Summit 2021 focus on three broad, interconnected pillars of action- “People, Planet, Prosperity”. |
| 2022 | Bali, Indonesia | The G20 summit’s theme for the year 2022 was “Recover Together, Recover Stronger” |
| 2023 | New Delhi (India) | The G20 summit’s theme for the year 2023 is “Vasudhaiva Kutumbakam” or “One Earth, One Family, One Future”. |
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