The G20 is the premier forum for international economic cooperation and decision-making with members from 19 countries plus the European Union, G20 leaders, finance ministers and central bank governors who meet regularly to discuss ways to strengthen the global economy, reform international financial institutions and improve financial regulation.
G20 members account for 85 percent of the world economy, 80 percent of global trade and two-thirds of the world’s population. The G20 represents all geographic regions of the world, but remains small enough to be an effective decision making body.
The members are Argentina, Australia, Brazil, Canada, China, European Union, France, Germany, Indonesia, India, Italy, Japan, Republic of Korea, Mexico, Russia, Saudi Arabia, South Africa, Turkey, United Kingdom and the United States.
The Summit will be chaired by the current G20 President, Australia’s Prime Minister Tony Abbott. The summit, to be held on 15th and 16th November at the Brisbane Convention and Exhibition Centre in Queensland, will be the most significant meeting of world leaders Australia has hosted. Australia’s G20 presidency runs from 1 December 2013 to 30 November 2014.
The G20 cultural celebrations run from 24th October to 16th November and the program will include cultural events, visually stunning lighting displays and many other activities Brisbane resident and visitors can participate in. Brisbane city and surrounding suburbs will come alive for a world-class celebration of arts, culture and sport.
The programme will include music programmes in local parks and pubs, dance events, street performance, art, film and the lighting of the city in extraordinary ways. The cultural celebrations will reflect Brisbane’s role as the host of the 2014 G20 Leaders’ Summit.
The G20 started in 1999 as a meeting of Finance Ministers and Central Bank Governors in the aftermath of the Asian financial crisis. In 2008, the first G20 Leaders’ Summit was held, and the group played a key role in responding to the global financial crisis. The G20 introduced trillions of dollars in fiscal stimulus packages worldwide, which saved or created millions of jobs. It also put in place measure to limit the collapse of financial markets and helped maintain consumer and business confidence.