CLAT 2022- 7th G-20 Parliamentary Speakers Summit

• Duarte Pacheco President of the Inter-Parliamentary Union (IPU) will address the Summit.

• The Summit is expected to discuss issues including response to the social and employment crisis caused by the COVID -19.

2021 G-20 Rome Summit

• The 2021 G20 Rome summit is the upcoming sixteenth meeting of the Group of Twenty (G20).

• The G20 Heads of State and Government Summit will be held in Rome on October 30th and 31st 2021, with the participation of the G20 Heads of State and Government, of their counterparts from invited countries, and of the representatives of some of the main international and regional organizations.

• The Summit is the climax of the G20 process and the final stage, at the Leaders’ level, of the intense work carried out within ministerial meetings, working groups and Engagement Groups throughout the year.

About G-20:

• The G20 (or Group of Twenty) is an intergovernmental forum comprising 19 countries and the European Union (EU). It works to address major issues related to the global economy, such as international financial stability, climate change mitigation, and sustainable development.

• The group collectively accounts for around 90 percent of gross world product (GWP), 75-80 percent of international trade, two-thirds of the world's population.

• The G20 was founded in 1999 in response to several world economic crises. Since 2008, the group convenes at least once a year, with summits involving each member's head of government or state, finance minister, foreign minister, and other high-ranking officials and the EU is represented by the European Commission and the European Central Bank.

• Canadian finance minister Paul Martin was chosen as the first chairman and German finance minister

  Hans Eichel hosted the inaugural meeting.

Members:

As of 2021, there are 20 members of the group: Argentina, Australia, Brazil, Canada, China, the European Union, France, Germany, India, Indonesia, Italy, Japan, Mexico, Russia, Saudi Arabia, South Africa, South Korea, Turkey, the United Kingdom, and the United States. Spain is a permanent guest invitee.

Chair rotation

• To decide which member nation gets to chair the G20 leaders' meeting for a given year, all members, except the European Union, are assigned to one of five different groupings, with all but one group having four members, the other having three.  Italy is the current chair of the group.

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