G-20 (group of twenty) - 2017

Origin of G20:

Initially G20 was established by these six countries: Italy, France, Germany, UK, USA, Japan in 1975 and that time its name was G6 because of these six countries and after one year in 1976 Canada was the seventh country which joined that group
so its became G7 because now there were seven countries in that group. In 1977 this group sent an invitation to Russia to join their group and it was accepted in 1978 and now it became G8. Finally in 1999 the G20 was established.

Meaning:

Basically G-20 is a central forum (a meeting or medium where ideas and views on a particular issue can be exchanged) in which a group of finance minister and central bank governor from 19 countries and European Union participate in an agenda and exchange their ideas.

It was held on 7-8 july at Hamburg, Messe, in the city of Hamburg, Germany.
Theme - "Shaping an interconnected world"

Participants:

Here is the list of those leaders who took part in 2017 G20 summit.

1. Mauricio Macri president of Argentina.

2. NarendraModi Prime Minister of India.

3. Donald Trump President of The United States of America.

4. Jacob Zuma President of South Africa.

5. Malcolm Turnbull Prime Minister of Australia.

6. JokoWidodo President of Indonesia.

7. Moon Jae-in President of South Korea

8. Michel Temer President of Brazil.

9. Paolo GentiloniPrime Minister of Italy.

10. RecepTayyipErdogan President of Turkey.

11. Justin Trudeau Prime Minister of Canada.

12. Shinzo Abe Prime Minister of Japan.

13. Theresa May Prime Minister of United Kingdom.

14. Xi Jinping president of China.

15. Enrique Pena Nieto President of Mexico.

16. Vladimir Putin President of Russia.

17. Emmanuel Macron president of France.

18. Donald Tusk President of the European Council.

19. Angela Markel Chancellor(Host), Germony

20. Jean-Claude Juncker President of the European Commission.

21. Ibrahim Abdulaziz Al-Assaf state minister of Saudi Arebia.

Organizations which also took part in G20 summit:

1. World bank

2. International Monetary Fund (IMF)

3. Financial Stability Board (FSB)

4. United Nations

5. Food and Agriculture Organizations (FAO)

6. International Labour Organization (ILO)

7. World Trade Organization (WTO)

8. Organization for Economic Co-operation and development (OECD)

9. World Health Organization (WHO)

Summit Agenda:

The main agenda of G20 summit Hamburg was to focus on some important parts and these parts were economic growth, international trade and financial market.

What happened when all leaders met in G20 :

·       1.Sustainable development: In this section USA didn’t show any consensus regarding climate protection. The other 19 participate agreed to stick with the Paris agreement and to view it as unchangeable and to swiftly put it into practice. When the summit were about to finish the Turkish President said that their countries would not approve the Paris agreement.

·       2.Counter terrorism and national securities: leaders have decided to take step against the funding of terrorism groups and also decided to take steps to prevent the internet from being used to spread propaganda.

·       3.Women’s economic empowerment: The world bank group and the white house confirmed that they would roll out a new fund soon and the main aim of that fund will to help entrepreneurs females to access capital and it will give financing and managerial support to those women in this developing world.

President Donald Trump also lent his personal support by giving $50 million to this fund.

·       4.Others: G20 leaders commit to keep Market Open and unfair trade practices.

India has agreed to revise the quota rates which will increase quota rates 2.75% from 2.44%.

·         

In this forum our Prime Minister Modi met with three different nation’s leaders to make relations with these countries and these countries areSouth Korea,Italy and Norway.

A.    South Korea: According to the Ministry of External Affairs PM Modi met with president of South Korea Mr. Moon Jae-in and firstly Modi congrats to him for his victory in Presidential election and after that both leaders expressed their commitment to increase the business relationship between India and South Korea particularly through partnership in programs such as Make in India, Digital India and Startup India. The Modi also invited Mr. Moon to visit India and the invitation has accepted.

B.    Italy: When Modi met President of Italy Paolo Gentiloni the both leaders talk about the promotion of bilateral relations, particularly trade and investment and people to people ties. Modi invited Italy’s participation-World food India, food processing exhibition to be held in India in November this year. The prime Minister of Italy appreciated India investment in his country, including in industrial sector. The two leaders also discussed ways and means so that they can provide sustainable solutions to prevent climate change and promote development in Africa.

C.     Norway: Prime Minister Modi and Prime Minister of Norway, Ms Erna Solberg discussed bilateral matters especially increasing the Economic relations.The Prime Minister of Norway invited India to participate in the Oceans' Conference on the sidelines of UNGA. In a gesture symbolising cooperation for attainment of Sustainable Development Goals (SDG), Prime Minister Solberg presented to Prime Minister Modi, at the end of the meeting, a football with SDGs inscribed on it.

Upcoming G-20 Summits:

2008 - Argentina

2019 - Japan

2020 - Saudi Arabia