There are 195 countries in the world. That have their own borders and that share their borders with other countries. But their mutual connections are not limited only to the border. Some of these countries form various types of groups to pursue their respective interests and show unity on important issues.
The G7, BRICS, ASEAN and SAARC are some of those groups. Where not one but many countries come together, sit down and develop a strategy for the future. One of those powerful groups is the G20. The platform where 20 large and emerging economies of the world discuss global issues.
Its strength can be measured by the fact that G20 member countries represent 85% of the world’s GDP, 75% of global trade and two-thirds of the population. This group was organized by India in 2023. This year everything is in the hands of Brazil.
read this too
Brazil – The 19th meeting of the G20 will be held in this South American country on November 18 and 19. Stalwarts such as Indian Prime Minister Narendra Modi, US President Joe Biden and Chinese President Xi Jinping are participating in this. Come, on this special occasion, tell us what the history of the G20 has been and everything that makes it special.
What is the G20 and why was it formed?
As the name suggests, the G20 is a group of 20 countries. 19 countries that are part of this group: Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, Republic of Korea, Mexico, Russia, Saudi Arabia, South Africa, Turkey, United Kingdom, America . The twentieth member of the group is the European Union, that is, a strong group of European countries.
The idea of forming this group arose from the economic crisis that occurred in Asia in 1999. At that time, the finance ministers and the governors of the central banks of several countries thought together about creating a platform where economic and social issues could be discussed. global financials.
Until 2007, only the finance ministers of the member countries attended its meetings. But in view of the economic crisis of 2008, it was decided that now instead of the Finance Ministers of the member countries, the Heads of State of the member countries will also participate in the G20 summit.
When was the first meeting held?
The first G-20 meeting was held in Washington, United States, in 2008. This was the period when the world was struggling with the global economic crisis. To date, a total of 18 meetings of this group have been held. The second meeting was held in Great Britain in 2009.
However, in the initial phase, the G20 was organized twice a year. Since 2011 it has been organized once a year. For this reason, the third meeting was held again in America in 2009. In this way, the United States is the only country that has hosted the G20 twice.
The fourth meeting was held in Canada in 2010, after which France, Mexico, Russia, Australia, Turkey, China, Germany, Argentina, Japan, Saudi Arabia, Italy, Indonesia The event took place in. India hosted the 18th meeting.
One more thing: in addition to the G20 member countries, every year the president also invites some countries and organizations as guests. As guest countries of the G20 2024 are Angola, Egypt, Nigeria, Norway, Portugal, Singapore, Spain and the United Arab Emirates.
What topics are discussed?
As we mentioned earlier, the purpose of forming this group was to discuss issues related to economics. But its reach increased over time. Now at this summit not only the economy is discussed but also issues such as health, agriculture, energy and climate change.
For example, in 2015, when the G20 was organized in Türkiye. This was the first time that 20 member countries focused on the migration and refugee crisis. Apart from this, it was also agreed to support plans to reform the financial sector and address climate change.
How does the G20 work?
In fact, the country that holds the G20 presidency organizes its meetings that year. Present the agenda for the meeting. Apart from this, the G20 works through two tracks.
is the first finance track i.e. finance track and the other sows sherpa trackThe Finance track focuses on financial and economic issues. In which the Finance Ministers of all countries and the Governors of the Central Bank work together.
The Sherpa Track includes discussions at the level of diplomatic representatives of member countries. In reality, those who work to make any mission easier are called Sherpa. Sherpa Track includes topics such as agriculture, culture, digital economy, education, energy and tourism.
How is the G20 presidency achieved?
Now, this time Brazil will host the G20, but the question is how do you decide which country should lead the summit? In reality, the decision of the G20 President is decided by the Troika. Includes past, present and future presidents.
Taking the example of this era, there is a troika consisting of India, Brazil and South Africa. The G20 summit was organized in India in 2023. The event will be organized in Brazil in 2024. This triumvirate will come to an end with the organization of the G20 in South Africa in 2025. With its organization in South Africa, all countries will have the presidency of the G20 . After this, the United States will once again obtain the G20 presidency starting in 2026.
What is the benefit of the G20 meeting?
There is no legal obligation to accept the decisions made during this conference. At the end of the meeting, a consensus is also reached on the joint declaration of the G20 countries, the responsibility of which usually falls to the country that presides.
However, when the G20 meeting was held in Bali, Indonesia, in 2022, it was the first time that photographs of all heads of state could not be taken together. In reality, there was tension between the United States and Russia regarding the Ukraine war. Even after 15 rounds, no consensus could be reached on the publication of the manifesto. After this, Western countries issued the Bali Declaration as per their wish.
