G20, or Group of 20 most powerful nations. Founded in 1999 after a series of international economic crises, the G20 summit aims to unite world leaders around shared economic, political and health challenges. G20 summit is intended to promote world economic cooperation. Due to the impact of globalization nations should work together to maintain economic stability, and G20 is to bring this stability by making the political and finance leaders work closely together.
History of G20 Summit
Originated in 1999 to discuss the economic policies for global economic stability. G20 founded at the level of Finance Ministers and Central Bank Governors. The G20 summit is officially known as the “Summit on Financial Markets and the World Economy“. After the 2008 global financial crisis, the G20 was elevated to include the leaders of member countries. The first-ever G20 Summit took place in Washington D.C, U.S.A in November 2008. After the first G20 summit the agenda expanded beyond macro-financial issues, to include socio-economic and development issues. The G20 does not have a permanent secretariat or staff. The summit’s chair rotates annually among the members and is selected from the different regional grouping of member countries. The Kingdom of Saudi Arabia will host the 15th G20 Summit in November 2020 in Riyadh. The Saudi Arabian chair “Realizing Opportunities of the 21st Century For All” as the theme for the 2020 G20 summits. The key agenda items to be addressed under this theme are:
- “Empowering People, by creating the conditions in which all people – especially women and youth – can live, work and thrive”
- “Safeguarding the Planet, by fostering collective efforts to protect our global commons”
- “Shaping New Frontiers, by adopting long-term and bold strategies to share benefits of innovation and technological advancement.”
To ensure continuity, the presidency/ chair is supported by a “troika” made up of the current, immediate past and next host countries.
Members of G20
The members of the G20 are:
- Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, Republic of Korea, Mexico, Russia, Saudi Arabia, South Africa, Turkey, the United Kingdom, the United States of America, The United Kingdom and the European Union.
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List of G20 Summits
|Summits||Year of the Summit||Hosting Nation||Hosting City||Hosting Leader|
|1||November 2008||United States||Washington, D.C.||George W. Bush|
|2||1 April 2009||United Kingdom||London||Gordon Brown|
|3||September 2009||United States||Pittsburgh||Barack Obama|
|4||June 2010||Canada||Toronto||Stephen Harper|
|5||November 2010||South Korea||Seoul||Lee Myung-bak|
|6||November 2011||France||Cannes||Nicolas Sarkozy|
|7||June 2012||Mexico||San José del Cabo, Los Cabos||Felipe Calderón|
|8||September 2013||Russia||Saint Petersburg||Vladimir Putin|
|9||November 2014||Australia||Brisbane||Tony Abbott|
|10||November 2015||Turkey||Serik, Antalya||Recep Tayyip Erdoğan|
|11||September 2016||China||Hangzhou||Xi Jinping|
|12||July 2017||Germany||Hamburg||Angela Merkel|
|13||December 2018||Argentina||Buenos Aires||Mauricio Macri|
|14||June 2019||Japan||Osaka||Shinzō Abe|
|15||November 2020||Saudi Arabia||Riyadh||Salman|
|17||2022||India||New Delhi||Narendra Modi|
Other Meetings in G20 Summit
- Finance Ministers Meeting, Ministerial meetings not always held in the summit host country.
- Central Bank Governors Meeting
- Labor and Employment Ministers Meeting
- Foreign Ministers Meeting
- B20 summits: summits of business leaders from the G20 countries.
- C20 summits: summits of civil society delegates from the G20 countries.
- T20 summits: summits of think tanks from the G20 member nations.
- W20 summits: summits of women leaders from G20 nations.
- German Chancellor Angela Merkel organized the First W20 women’s summit in Berlin.
- Y20 summits: summits of young leaders and changemakers from 18 to 30 years old from the G20 countries.
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