What is the G20 Summit? 01 What is the G20 Summit?
The G20 Summit is an international forum which is convened annually. The participants are heads of state and government from Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, Mexico, Republic of Korea, Republic of South Africa, Russia, Saudi Arabia, Turkey, United Kingdom, United States of America, and European Union (EU). In addition, leaders of invited guest countries and representatives of invited guest international organizations participate in the summit along with leaders from the G20 countries. (Please click here for the list of participating countries and international organizations for the G20 Osaka Summit.)
The G20 Summit is formally known as the “Summit on Financial Markets and the World Economy”. As the “premier forum for international economic cooperation” (agreed by leaders at the Pittsburgh Summit in September 2009), representing more than 80% of the global GDP, the G20 has made continuous efforts toward achieving robust global economic growth. As globalization progresses and various issues become more intricately intertwined, the recent G20 summits have focused not only on macroeconomy and trade, but also on a wide range of global issues which have an immense impact on the global economy, such as development, climate change and energy, health, counter-terrorism, as well as migration and refugees. The G20 has sought to realize an inclusive and sustainable world through its contributions towards resolving these global issues.
The host country of the G20 summit leads the group over the course of one year from December through the following November as the G20 presidency. The G20 presidency also organizes relevant ministerial and working group meetings.
It is the first time for Japan to take on the G20 presidency. The G20 Osaka Summit will be held on June 28-29, as well as relevant ministerial meetings in eight cities in 2019.