rio de janeiro12 minutes ago
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After the successful completion of the G20 summit chaired by India, PM Modi handed over its chairmanship to Brazilian President Lula da Silva.
Place – Bali, Indonesia
Opportunity – G20 meeting
Date – 16 November 2022
This day was the last day of the G20 summit hosted by Indonesia. A joint manifesto was to be issued, but then there was tension between America and Russia over the Ukraine war. Even after 15 rounds of talks, no consensus could be reached on issuing the manifesto.
Russian Foreign Minister Sergei Lavrov left even before the summit’s manifesto was released. After this, the western countries issued the Bali Declaration as per their wish. For the first time, photographs of all the heads of state could not be taken together.
Last year also India faced the same challenge. But India got 100% consent of all the countries in the manifesto. The New Delhi declaration avoided mention of the Russian invasion of Ukraine.
Although it was not that easy. The team of Indian diplomats held more than 300 meetings to reach a consensus. Over 200 hours of non-stop conversation. After this the manifesto was prepared. This is also important because any summit is considered successful only when its joint declaration is issued.
In such a situation, we will know what is the G20 organization and to make it successful, India has managed even the staunchest enemies like America and Russia…
First of all know how G20 organization was formed…
The whole world remembers the financial crisis that occurred in 2008. Just 11 years before this, in 1997, there was an economic crisis in Asia also. This is known as the Asian Financial Crisis. This crisis started from Thailand and spread to other countries of Asia also.
Due to the recession, the debt of ASEAN countries increased by 167% compared to their GDP. A large number of people became unemployed. In the first six months of the crisis, the value of Indonesia’s currency fell by 80% and Thailand’s currency fell by 50% against the dollar.
To ensure that this does not affect the developed countries, the G7 countries held a meeting and decided to create a platform where issues related to the global economy could be discussed. Then G20 started. Those countries were identified whose economies were growing rapidly, or which had the potential to grow rapidly. Everyone was brought on one platform.
Till 2007, only the finance ministers of member countries attended its meetings. However, the financial crisis that hit Western and rich countries in 2007 and 2008 forced them to take the talks to the level of heads of state.
Since then, every year the leaders of all the member countries come together on one platform and discuss important issues. Initially America had opposed this. However, considering the urgency of the situation, he later got ready for the summit. The first summit of G20 countries was held in Washington DC only.
The picture is of the first G20 summit, which was held in America’s capital Washington DC.
A total of 18 meetings of G20 have been held so far. The 19th meeting of G20 is being held in Brazil. Apart from the member countries in G20, every year the President also invites some countries and organizations as guests.
The guest countries of G20 2024 are- Angola, Egypt, Nigeria, Norway, Portugal, Singapore, Spain and UAE.
What is the job of G20?
Initially the focus of G20 was to discuss matters related to the economy. But with time its scope kept increasing. Now in the G20 meeting, health, agriculture, energy, environment, climate change and stopping corruption are also discussed.
How is the presidency of G20 decided? The presidency of the G20 rotates among the member countries every year. The decision on where it is to be organized is decided by the Troika. The triumvirate consists of the past, present and future presidents of the country.
This time there is a troika of India, Brazil and Indonesia. G20 summit to be organized in India in 2023. The event is being held in Brazil in 2024. The trio will conclude with the G20 being held in South Africa in 2025.
With its hosting in South Africa, every country will have got the presidency of the G20. After this, America will again get the presidency of G20 from 2026.
America is the only country that has hosted the G20 twice (2008, 2009). In the initial phase, G20 was organized twice a year. However, since 2011 it is being organized once a year.
What was special in New Delhi Declaration
- There was no mention of the Ukraine war. It was appealed that every country will follow international law and respect the territorial integrity, sovereignty and international humanitarian law of other countries.
- In the New Delhi G20 Declaration, all countries condemned terrorism of any kind.
- India-Middle East-Europe Economic Corridor was announced. These include India, UAE, Saudi Arabia, European Union, France, Italy, Germany and America.
- A consensus was reached on funding the fastest growing cities in the world.
- There was talk of emphasizing the priorities of the Global South.
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