DAVID ADAMS provides a quick primer on the G20…
The G20 Leader’s Summit in Brisbane is less than a month away. So before we get all carried away with the hype, we’re taking a quick look at what the G20 is all about…
The G20 website.
• The G20 started in 1999 with a meeting of finance ministers and central bank governors in the wake of the Asian financial crisis.
• The first Leader’s Summit was held in 2008 and the leaders have met eight times since, annually since 2011.
• The United States is the only country to have hosted the Leader’s Summit twice – in Washington, DC, in 2008, and in Pittsburgh in September, 2009.
• Each year the G20 has a new president – this year it’s Australia. The president is supported by the next host – Turkey – and the previous host – Russia – in what is known as a “troika”.
• While it’s called the G20, membership actually consists of 19 countries, located on every continent bar Antarctica, and the 20th member is the European Union.
• As well as representatives of the 20 countries and EU, the G20 also invites guests each year. These include Spain (who apparently have a standing invitation), the chair of ASEAN – this year held by Myanmar, the chair of the African Union – this year held by Mauritania, and a representative of the New Partnership for Africa’s Development (NEPAD) – this year represented by Senegal, as well as special invitees of the host nation – this year Australia has invited New Zealand and Singapore.
• Collectively the the G20 economies account for 85 per cent of gross world product, more than 75 per cent of world trade, two-thirds of the world’s population and more than half of the world’s poor.
• This year’s G20 Leader’s Summit is expected to attract some 4,000 delegates and 3,000 media representatives. The cost to Australia has been reported at $500 million.
• In the lead-up to and during the G20 Leader’s Summit, Brisbane will host a series of free cultural events including 24 days of free music.
Sources: G20, The Guardian, G20 Cultural
