G20 leaders to meet this weekend: What is this forum all about?

The G20 forum for 2021 is all set to be held in Italy in the city of Rome on October 30 and 31. This two-day event will include a numerous talks and sessions, and will be hosting leaders of some of the world’s wealthiest nations. During this forum, the main topics of discussion will be related to the coronavirus pandemic, its aftermath and post-pandemic recovery, the current political situation in Afghanistan, as well as climate change.  

The 2021 G20 forum is crucially important as it will closely be preceding the COP26 climate change conference which is scheduled to be held in Glasgow, UK. With leaders like Joe Biden, Justin Trudeau, Narendra Modi, Angele Merkel, Boris Johnson and many more attending this forum, extreme measures will be undertaken in Rome to ensure safety and security. Read on to learn more about the G20 forum. 

What does G20 stand for? 
G20 stands for Group of Twenty. It is an international, intergovernmental forum which includes 19 participating countries and the entire European Union. These member countries account for over 80% of the world’s GDP, 75% of global trade, 60% of the total population and roughly 50% of the total world land area. The members of the G20 include Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, Republic of Korea, Mexico, Russia, Saudi Arabia, South Africa, Turkey, the United Kingdom, the United States, and the European Union. 

History of the G20 forum 
The decade of the 90s was a time which witnessed many cases of severe economic turmoil in the world. The G20 forum was established in the year 1999 as a response to this situation. The forum has been taking place almost every year since 2008. 

Significance of the G20 forum in the global arena 
The G20 forum brings together the representatives of some of the world’s major economies. This forum acts as a platform to establish discussions and conversations about important issues about the global economy. These issues usually include themes related to financial stability, measures required to manage and reduce the effects of climate change, sustainable development, current affairs around the world and also economic decisions related to politics. Here, the leaders of the various member countries have the opportunity to put forth their opinions about important issues and work together to reach effective solutions which can be implemented. Along with the heads of various nations, their finance ministers, foreign ministers, other important, high-ranking personnel as well as other international organisations and NGOs are invited to be a part of this forum.