23 NOVEMBER 2020
The G20 Summit has completed successfully in Riyadh, Saudi Arabia and the next G20 Presidency will be held by Italy in 2021, Indonesia in 2022, India in 2023 and Brazil in 2024.
The two day Summit concluded after issuing a G20 Leaders Declaration which called for coordinated global action, solidarity and multilateral cooperation by empowering people, safeguarding the planet and shaping new frontiers.
Prime Minister Narendra Modi congratulated Saudi Arabia for hosting the G20 Summit successfully.
Speaking at the G20 Summit’s session on the environment, US President, Donald Trump said that the US has reduced carbon emissions more than any nation anywhere in the world after the US has withdrawn from the Paris Accord.
All member states, European Union and other international organisations like UN, IMF, Indian Labour Organisation( ILO), Food and Agriculture Organisation (FAO), World Health Organisation (WHO), World Trade Organisation ( WTO), Financial Action Task Force( FATF), Organisation for Economic Cooperation and Development ( OECD) participated in the Summit.
The G20 is the premier international economic forum of the largest economies including the developing and developed countries of the world to discuss financial and socio economic issues. It represents nearly 80 % of the world’s economic output and two thirds of the global population. Though originated in 1999 at the level of Finance Ministers and Central Bank Governors, during the global financial crisis in 2008, the G20 included the leaders of member countries. The first G20 Leaders’ Summit was held in Washington D.C in November, 2008.
The G20 members are Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, Mexico, Republic of Korea, Russia, Saudi Arabia, South Africa, Turkey, The UK, the USA and the European Union.
In addition to the G20 members, other countries are invited to participate in the meeting. Spain is a permanent invitee to the G20 Meetings.
In 2020 Riyadh Summit, Singapore, Jordan and Switzerland were invited as guest countries.