UPSC Prelims 2020 Important topics: G20 SUMMIT

15TH G20 SUMMIT-2020: The G20 Summit 2020 will be held on November 21-22, 2020 in Saudi Arabia’s capital city of Riyadh.

Themes of the summit: The 15th G20 Summit will be carried out under the theme of ‘Realizing Opportunities of the 21st Century for All’.

It will focus on three aims:

  • 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

G20 virtual summit 

The G20 leaders in a virtual summit pledged to inject $5 trillion collectively to mitigate the economic downturn due to COVID-19

About G20

  • ​​​​​​​​​​​​​​​The G20 is the premier forum for international economic cooperation. 
  • The G20 brings together the leaders of both developed and developing countries from every continent. ​
  • Collectively, G20 members represent around 80% of the world’s economic output, two-thirds of global population and three-quarters of international trade. 
  • Throughout the year, representatives from G20 countries gather to discuss financial and socioeconomic issues.​

Previous summits

  1. Osaka, ​Japan, 2019
  2. Buenos Aires, Argentina, 2018
  3. Hamburg, Germany, 2017
  4. Hangzhou, Ch​ina, 2016
  5. Antalya, Turkey, 2015

G20 countries

The G20 countries are a group of 20 countries established in September 1999 by the finance ministers of the G7 countries as an international forum which would help preserve international financial stability.

​​​​​​​​​​​​The G20 members are Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, Mexico,  ​Republic o​f Korea​,​ Russia, Saudi Arabia, South Africa, ​​​Turkey, the United Kingdom, the United States and the European Union (EU)​.

 How does the G20 Work?

  • ​​The presidency of the G20 rotates between member countries every year. The presidency plays a leading role in setting the agenda and organizing the Leaders’ Summit, which is attended by the G20 Heads of State or Government. At the Summit, the leaders issue a declaration, or communiqué, based on policy discussions at meetings held throughout the year.​​​
  • ​​​In the run-up to the Summit, the presidency hosts several meetings featuring Ministers, senior government officials as well as civil society representatives. At the government level, the G20 work is organized around the Finance and Sherpa Tracks, while civil society assembles through Engagement Groups.​​
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