Founding history, purpose, member states to type of meetings

World leaders pose for a photo during the G20 summit in Rome on October 30, 2021.

© HandOut /
World leaders pose for a photo during the G20 summit in Rome on October 30, 2021.

TRIBUNNEWS.COM – From December 1, 2021, Indonesia will hold the G20 presidency for the next year until November 30, 2022.

The previous handover took place in Rome KKT at the end of October 2021.

The theme of the Indonesian G20 Presidency in 2022 is “Recover Together, Recover Stronger”.

With this theme, Indonesia would like to invite the whole world to work hand in hand, support one another, recover together and become stronger and more sustainable.

This presidency also underscored Indonesia’s leadership in international diplomacy and business in the region, considering that Indonesia is the only ASEAN country that is a member of the G20.

What exactly is the G20 and how was its founding history?

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What is G20?

Reported side Shrepa G20 Indonesia, the G20 is a multilateral cooperation forum made up of 19 major countries and the European Union (EU).

The G20 represent more than 60 percent of the world’s population, 75 percent of world trade and 80 percent of world GDP.

Unlike most multilateral fora, the G20 does not have a permanent secretariat.

The function of the Presidium is carried out by one of the member states, which changes every year.

The G20 members consist of South Africa, the United States, Saudi Arabia, Argentina, Australia, Brazil, India, Indonesia, Great Britain, Italy, Germany, Canada, Mexico, South Korea, Russia, France, China, Turkey and the European Union .

History of the founding of the G20

The G20 was founded in 1999 on the initiative of G7 members with the aim of achieving strong, sustainable, balanced and inclusive global growth.

The G20 includes industrialized and developing countries in order to jointly overcome crises, especially those that hit Asia, Russia and Latin America.

The formation of the G20 is inseparable from the disappointment of the international community over the failure of the G7 to solve global economic problems.

The G7 is a group of large countries with developed economies and open societies.

The G20 was originally a meeting of finance ministers and central bank governors.

However, since 2008 the G20 has provided heads of state at summits, and in 2010 talks were held in the field of development.

Since then, the G20 has consisted of the Finance Track and the Sherpa Track.

Sherpa comes from the term for guides in Nepal and describes how the G20 Sherpas paved the way to the summit.

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G20 session type

There are different types of meetings in the G20, the following are quoted:

1. Summit / Summit

This is the culmination of the G20 meeting, namely the meeting of heads of state / government.

2. Meeting of ministers and representatives

These meetings took place in each of the focus areas of the forum.

In the Finance Track, finance ministers and central bank governors take part in the ministerial meetings, the so-called Finance Minister and Central Bank Governors Meetings (FMCBG).

Meanwhile, the meeting of MPs is referred to as the Finance and Central Bank MPs Meeting (FCBD).

3. Working groups

This is a meeting of experts from the G20 countries.

Working groups deal with specific issues related to the broader G20 agenda, which then feed into the ministerial segments and ultimately into the summit.