Overview
The role of the G20 in creating the foundation for global economic stability, a vital catalyst for economic development and implementing consequential global commitments such as the Pact for the Future and the 2030 Agenda for Sustainainable Development (Agenda 2030) cannot be overstated.
Inception of the G20
The G20 was founded in 1999 after the Asian financial crisis of 1997 – 1998 as an informal forum for the Finance Ministers and Central Bank Governors of the most important industrialised and developing economies to discuss international economic and financial stability.
The forum initially focused largely on broad macroeconomic issues, but it has since expanded its agenda to inter-alia include trade, climate change, sustainable development, health, agriculture, energy, environment, climate change, and anti-corruption.
G20 Members
G20 members include the world’s major economies, representing 85% of global GDP, 75% of international trade, and two-thirds of the world’s population.
The 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, the United Kingdom, and the United States), the European Union, and since 2023, the African Union.
Invitees
The G20 invites guest countries and international organisations to participate in its meetings and summits.
Each year the G20 president invites several guest countries to participate in G20 events and contribute to the agenda. G20 members engage with guest countries and other non-member countries to ensure the G20 reflects a broad range of international opinion.
The work of G20 members is supported by several international organisations that provide policy advice. The G20 also regularly engages with non-government sectors. Engagement groups from business (B20), civil society (C20), labour (L20), think tanks (T20) and youth (Y20) are holding major events during the year, the outcomes of which will contribute to the deliberations of G20 leaders.
Previous Summits
The G20 Summits bring together leaders from the world’s largest economies to address pressing global challenges and foster economic cooperation. Since its inception in 2008, the G20 has evolved from a crisis-management platform to a broader forum tackling issues like financial stability, climate change, sustainable development, and global health.
Each summit focuses on a set of themes relevant to the current global landscape, allowing leaders to coordinate policies and set collective goals.
Read about the key highlights and decisions made at each summit, showcasing the G20’s ongoing role in shaping international policy and promoting global stability.