The Group of Twenty (G20) is the premier international forum for cooperation on global economic governance. The members of the G20 are: Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, Republic of Korea, Mexico, Russia, Saudi Arabia, South Africa, Turkey, United Kingdom, United States, and the European Union.
G20 members account for 86 per cent of the world economy, 78 per cent of global trade, and two-thirds of the world's population, including more than half of the world's poor. G20 leaders meet annually at the G20 Summit. Finance Ministers and Central Bank Governors meet regularly. G20 ministerial meetings (e.g. trade, health, employment, agriculture) also occur at leaders’ request. G20 Engagement groups, civil society, business and labor leaders, think-tanks, women and youth regularly meet in parallel with the G20 and provide recommendations to the leaders’ Summit.
G20 and Australia
Australia places a high priority on the G20 as the premier forum for global economic cooperation. The G20 has a key role to play in shaping collective action to support strong sustainable and balanced growth. Follow the conversation with Australia’s G20 Sherpa Dr David Gruen on Twitter @G20Australia.
Australia held the G20 Presidency in 2014 culminating in the Brisbane Summit on 15–16 November 2014. At the Summit, leaders agreed to substantial actions to lift global growth and job opportunities and to make the global economy more resilient. Leaders agreed an ambitious goal to lift the G20’s GDP by at least an additional two per cent by 2018, which if realised will add more than US$2 trillion to the global economy and create millions of jobs.
Actions to achieve this goal were set out in the Brisbane Action Plan and in country growth strategies. The G20 endorsed the Global Infrastructure Initiative and established a Global Infrastructure Hub, now located in Sydney. The G20 also committed to reduce the gap in workforce participation rates between men and women by 25 per cent by 2025, aiming to bring more than 100 million women into the labour force in G20 countries.
2017 Summit, Hamburg, Germany
The President or host of the G20 changes each year. Germany currently holds the Presidency, taking over from China after the Hangzhou Summit. In late 2016 German Chancellor Dr Angela Merkel announced the theme for the 2017 Leaders’ Summit in Hamburg (7-8 July 2017) would be “shaping an interconnected world”. Germany wants to build on the results of previous presidencies to ensure broad continuity in the G20’s work and add some further topics to the agenda “to reduce economic, social, ecological and political risks and to safeguard strong, sustainable, balanced and inclusive growth through collective action”. Germany is taking forward G20 work around three aims: Building Resilience, Improving Sustainability and Assuming Responsibility.
G20 and related links