What is G20 – Members, Summit, Recent News on G20
G20 is a forum of leading world’s major Economies. It was conceived at G7 finance ministers and central governors meeting in 1999. It neither has a headquarters nor any staff. It focuses on issues of global importance. Some of the topics which were focused in the past are global economy, financial markets, tax & fiscal policy, trade, agriculture, jobs, energy, fight against corruption, 2030 Sustainable Development Agenda etc. It covers 85% Global Economic Output, 66% World Population, 75% International Trade and 80% Global Investment.
Who are members of G20?
It consists of nineteen countries and European Union. These countries are:
- Saudi Arabia
- South Africa
- South Korea
Spain is permanently invited to these meetings.
- Meetings of ministers, foreign ministry, central bank governors, world leaders
- Each year a leader summit is attended by heads of state/government where they issue joint declaration on the policy formed by G20 throughout the year.
- Each year a new country takes presidency. It rotates between the nineteen members of the group.
Recent G20 Summit Venues
- 2017 – Hamburg, Germany
- 2018 – Argentina
- 2019 – Japan
- 2020 – Saudi Arabia
Groups of G20 Countries
The G20 countries are divided into five groups:
- Group 1: Australia, Canada, United States, Saudi Arabia
- Group 2: India, Russia, South Africa, Turkey
- Group 3: Argentina, Brazil, Mexico
- Group 4: France, Germany, Italy, UK
- Group 5: China, Indonesia, Japan, South Korea
The presidency is rotated between these groups.
G20 in News
- The G20 Digital Economy Ministerial Meeting was held in Salta, Argentina from 23 to 24 August, 2018.
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