The Group of Twenty (G20) is a major international platform for economic cooperation around the world. 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 European Union are all members of the G20.
The G20 is a global conference that brings the world’s leading economies together. Its members are responsible for more than 80% of global GDP, 75% of global trade, and 60% of the world’s population.
Since 1999, the forum has convened annually, with the involvement of the respective Heads of State and Government, and since 2008, it has featured a yearly Leaders’ Summit.
Ministerial meetings, Sherpa meetings (charged with carrying out talks and creating consensus among Leaders), working groups, and special events are held throughout the year in addition to the Summit.
The G20 Presidency will be held by Italy in 2021; please see the G20 Events Calendar for further information.
In November 2020, Saudi Arabia held the G20 meeting (virtually) and issued the Riyadh Summit Leaders’ Declaration.
In 2022, Indonesia will host the G20, with India following in 2023.
The G20 and Australia
Australia believes that the G20 should be strong and effective because it is an important multilateral forum for coordinating international economic policy responses. To support an open, global economy and the rules-based multilateral trading system, Australia collaborates and constructively with the G20 and G20 economies. Australia and other G20 economies are also focusing on the need to support global economic and health responses to the pandemic in response to COVID-19.
In response to the COVID-19, Australia made a number of actions to promote trade and investment. As part of a pledge by G20 members to promote transparency and accountability, Australia announced its G20 initiatives to support international trade and investment in response to COVID-19. At their May 2020 meeting, the G20 trade and investment ministers endorsed the Action Plan.