About the G20

The Group of Twenty (G20) brings together the leaders of the world’s major advanced and emerging economies to address global economic challenges. It comprises 19 countries and the European Union. The leaders of G20 economies meet annually and G20 Finance Ministers and Central Bank Governors meet several times during each year. As the G20’s response to the global financial crisis in 2008 showed, it can take decisive action that improves people’s lives.

The G20 began in 1999 as a meeting of Finance Ministers and Central Bank Governors in the aftermath of the Asian Financial Crisis. It was established to broaden discussions on key economic and financial policy issues and promote co-operation to achieve stable and sustainable world economic growth for the benefit of all.

In 2008, the first G20 Leaders Summit was held in response to the global financial crisis in recognition of the fact international consensus and decisive action required the political impetus of leaders. At that Summit, leaders affirmed their commitment to the shared belief that market principles, open trade and investment regimes, and effectively regulated financial markets foster the dynamism, innovation and entrepreneurship that are essential for economic growth, employment and poverty reduction.

G20 leaders have met eight times since 2008. G20 members represent around 85 per cent of global gross domestic product, over 75 per cent of global trade and two thirds of the world’s population. Through their 5^th Anniversary Leaders Vision Statement agreed in St Petersburg in September 2013, leaders reaffirmed the role of the G20 as the premier forum for their international economic cooperation.

The G20 agenda includes strengthening the global economy, reforming international financial institutions, improving financial regulation and overseeing broader economic reform. The G20 is also focused on supporting global economic growth, including promoting job creation and opening trade.

To advance the agenda, senior officials and working groups coordinate and progress policy development on specific issues so that it is ready for consideration by Leaders and Finance Ministers.

The G20 draws on policy analysis and advice from international organisations including the Financial Stability Board, the International Labour Organization, the International Monetary Fund, the Organisation for Economic Co-operation and Development, the United Nations, the World Bank and the World Trade Organization. Representatives of these organisations are invited to key G20 meetings.

G20 in 2014

In 2014 the Leaders Summit will be held in Brisbane on 15-16 November at the Brisbane Convention and Exhibition Centre. This will be the most significant meeting of world leaders that Australia has hosted.

Australia’s G20 agenda in 2014 is focused on promoting stronger economic growth through improved trade and employment outcomes and making the global economy more resilient to deal with future shocks. The Brisbane Leaders Summit will produce a declaration (communique) that outlines G20 policy commitments and how they will be implemented.

To ensure discussion in the G20 reflects the interests of a wide range of nations, each year the G20 president invites guest countries to participate in the year’s meetings, including the Leaders Summit.

In 2014 Australia welcomes Spain (as an agreed permanent guest), Mauritania (as the 2014 Chair of the African Union), Myanmar (as the 2014 Chair of the Association of South-East Asian Nations), Senegal (representing the New Partnership for Africa’s Development), Singapore and New Zealand.

The current G20 host works with the immediate past and future G20 hosts (the G20 troika) to help ensure continuity in the G20 agenda. The current members of the G20 troika are Australia, Russia (2013 host) and Turkey (2015 host).

Preparation for the annual summit is undertaken by senior officials, known as Sherpas, who represent G20 leaders. In preparation for the G20 Leaders Summit, Australia is hosting a range of gatherings including meetings of Finance Ministers, Trade Ministers, Employment Ministers, Sherpas, Finance Deputies and subject-specific working groups.

G20 engagement groups

Engagement with non-government groups is vital to the way the G20 operates. Engagement groups have been established to contribute to the leaders’ deliberations. The groups are Business 20 (B20) for the business community, Civil 20 (C20) for civil society, Labour 20 (L20) for labour organisations, Think 20 (T20) for think tanks and academics and Youth 20 (Y20) for young people.

In the first month of Australia’s G20 presidency, representatives of the engagement groups met with Sherpas to discuss the 2014 agenda. In May, engagement group representatives updated the Parliamentary Secretary to the Australian Prime Minister on their progress and initial policy discussions. From June onwards each engagement group will hold their own major meeting for 2014 and will present their views to feed into leader deliberations at the Brisbane Summit.

Outreach to non-member countries

Strengthening development is central to the G20’s objective of achieving strong, sustainable and balanced growth and ensuring a more robust and resilient economy for all and pervades all areas of the G20’s agenda.
Engagement with non-member countries on the G20 agenda is a high priority. It is important that the G20 delivers positive outcomes for all countries.

Australia is working closely with countries in our region and with Asia-Pacific groupings, including the Asia-Pacific Economic Cooperation forum (APEC), the Association of South-East Asian Nations (ASEAN) and the Pacific Islands Forum (PIF). We are also using our links with the United Nations (UN) and other organisations such as the Commonwealth and La Francophonie to ensure inclusive dialogue with the developing world.

Contact Us

G20 Taskforce
Department of the Prime Minister and Cabinet
PO Box 6500
CANBERRA ACT 2600
AUSTRALIA
Phone: 1800 922 011 (Toll free in Australia)
Email: G20info@pmc.gov.au
Facebook: G20 Australia 2014
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TTY users: call 133 677 then ask for 1800 922 011
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https://www.g20.org/australia_2014/event_schedule/g20_leaders_summit