G20
The G20, or Group of Twenty, is an intergovernmental forum of the world’s major developed and developing economies. It comprises 19 countries (Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, Republic of Korea, Mexico, Russia, Saudi Arabia, South Africa, Turkey, UK, USA), the African Union and the European Union (EU). Collectively, the G20 accounts for more than 85% of global GDP, 75% of international trade and two-thirds of the world population, making it the premier forum for international economic cooperation.
Starting in 1999 as a meeting for the finance minister and central bank governors, the G20 has evolved into a yearly summit involving the Head of State and Government.
The G20 currently comprises:
(i) Finance Track, with 8 workstreams (Global Macroeconomic Policies, Infrastructure Financing, International Financial Architecture, Sustainable Finance, Financial Inclusion, Health Finance, International Taxation, Financial Sector Reforms)
(ii) Sherpa Track, with 12 workstreams (Anti-corruption, Agriculture, Culture, Development, Digital Economy, Employment, Environment and Climate, Education, Energy Transition, Health, Trade and Investment, Tourism)
(iii) 10 Engagement Groups of private sector/civil society/independent bodies (Business 20, Civil 20, Labour 20, Parliament 20, Science 20, Supreme Audit Institutions 20, Think 20, Urban 20, Women 20 and Youth 20).
In addition to G20 Members, there has been a tradition of the G20 Presidency inviting some Guest countries and International Organizations (IOs) to its G20 meetings and Summit.
In addition to the summit, there are Ministerial meetings, working groups, and special events organized throughout the year.
G20 Presidency
G20 has a rotating presidency arrangement, starting from 1st December of the year to 30th November of the following year. Currently, Indonesia is the President of the G20.
As the presidency comes during the recovery form the COVID19 global pandemic, Indonesia has adopted “Recover Together Recover Stronger”as the theme for the year. The pandemic has affected every aspect of the society, from health, education, to international trade. At the same time, gaps in countries’ capacities to address the crisis continue to prevent the world from fully controlling the common problems and crises facing us right now.
Understanding the challenges and the need for collective action, Indonesia will focus on three main pillars for its G20 2022 Presidency namely: Global Health Architecture, Sustainable Energy Transition, and Digital Transformation.
More information on Indonesian Presidency
On 1st December 2022, India will assume the presidency of the G20.
Under its Presidency, India is expected to host over 200 G20 meetings across the country, beginning December 2022. The G20 Leaders’ Summit at the level of Heads of State / Government is scheduled to be held on 09 and 10 September 2023 in New Delhi.
In addition to the G20 members, regular International Organizations (UN, IMF, World Bank, WHO, WTO, ILO, FSB and OECD) and Chairs of Regional Organizations (AU, AUDA-NEPAD and ASEAN) will be invited. India, as G20 Presidency, will also be inviting Bangladesh, Egypt, Mauritius, Netherlands, Nigeria, Oman, Singapore, Spain and UAE as Guest countries, as well as ISA (International Solar Alliance), CDRI (Coalition for Disaster Resilient Infrastructure) and ADB (Asian Development Bank) as Guest IOs.
Whilst G20 priorities during India presidency are in the process of being firmed up, ongoing conversations inter alia revolve around inclusive, equitable and sustainable growth; LiFE (Lifestyle For Environment); women’s empowerment; digital public infrastructure and tech-enabled development in areas ranging from health, agriculture and education to commerce, skill-mapping, culture and tourism; climate financing; circular economy; global food security; energy security; green hydrogen; disaster risk reduction and resilience; developmental cooperation; fight against economic crime; and multilateral reforms.
