G20 Video lecture

G20 Countries


Overview:


G20 Established:September 25, 1999
G20 Members:20 Members
G20 Headquarters:No Headquarters.
G20 Secretary-General:G20 does not have any Secretary-General till now.
G20 Logo:G20 does not have any logo till now.

What is G20:


The G20 or the Group of Twenty is an international intergovernmental forum of the 20 biggest economies in the world. The G20 countries account for approximately 85% of the Gross World Product (GWP), 75% of the International Trade, 65% of the World Population, 50% of the World Land Area, and 80% of the Global Investment in Research and development.


Establishment of the G20:


The forum was created on September 25, 1999, at a meeting of the finance ministers of the G7 countries. As the G7 countries represent only by 7 big countries so it was the need of the time of the world that more developing countries should meet at one forum and discuss the international issues and tackle the situation.


Members of the G20:


Currently, The G20 comprises 20 members. The G20 forum is made up of 19 individual countries and the European Union represents all the European countries. The member countries represented by the heads of states and the European Union represented by the European Commission and the European Central Bank. A list of G20 countries is given below.


G20 Countries List:


flag-iconAustraliaflag-iconIndonesia
flag-iconBrazilflag-iconJapan
flag-iconCanadaflag-iconArgentina
flag-iconChinaflag-iconMexico
flag-iconFranceflag-iconIndia
flag-iconSaudi Arabiaflag-iconSouth Korea
flag-iconSouth Africaflag-iconTurkey
flag-iconUnited Kingdomflag-iconRussia
flag-iconUnited Statesflag-iconItaly
flag-iconGermany

The Objectives of G20:


The main purpose of the G20 forum is to address the major economic, financial and political global challenges. The G20 countries coordinate between its members to implement the discussed policies to achieve economic stability, growth and reduce the risks of the financial crisis in the future as well.


Headquarters of the G20:


There is no headquarters of G20 as It is a forum for the countries to discuss important international matters only. The decisions made in the G20 forum are not binding to any country to follow.


The G20 Summits:


The G20 summits held annually since the group was founded however in the years 2009, and 2010 there were two summits each year due to the 2008 financial crisis. The G20 leaders meet in the summits each year and discuss the international financial and other important topics to find the solution to the issues. There are some international institutions that are the permanent guest invitees in the G20 summits as African Union represents African countries in G20, IMF, ASEAN, FSB, NEPAD, ILO, OECD, UN, WTO, WBG, and a country Spain.


The first summit was held in 2008 in Washington, The United States.


In the years 2009, and 2010 the summits were organized semi-annually, and since the 2011 Cannes, France summit, all G20 summits have been held annually.


The G20 summit hosted by one of the member countries and who will chair the next summit is decided in previous meetings.


India and G20:


India is an active and one of the founding members of the G20 Forum.