After the success of the G20 summit chaired by India, Prime Minister Modi handed over his presidency to Brazilian President Lula da Silva.
Location – Bali, Indonesia
Opportunity – G20 Meeting
Date – November 16, 2022
This day was the last of the G20 summit hosted by Indonesia. A joint manifesto was to be published, but then tensions arose between America and Russia over the war in Ukraine. Even after 15 rounds of negotiations, no consensus could be reached on the publication of the manifesto.
Russian Foreign Minister Sergei Lavrov left the country even before the summit manifesto was published. After that, Western countries issued the Bali Declaration according to their wish. For the first time, photographs of all heads of state could not be taken together.
Last year, India also faced the same challenge, but India got consent from all countries participating in the manifesto. New Delhi’s statement avoided mentioning the Russian invasion of Ukraine.
However, it wasn’t that simple. The team of Indian diplomats held more than 300 meetings to reach consensus. Over 200 hours of non-stop talk time. After that, the manifesto was prepared. This is also important because any summit is considered successful when its joint declaration is issued.
In such a situation, we will know what the G20 organization is and to achieve success, India has managed to handle even the bitterest enemies like America and Russia
First, know how the G20 organization was created
The whole world remembers the financial crisis of 2008. Eleven years earlier, in 1997, an economic crisis also hit Asia. This is called the Asian financial crisis. This crisis started from Thailand and also spread to other countries in Asia.
Due to the recession, ASEAN countries’ debt increased by 167% relative to their GDP. A large number of people found themselves unemployed. During the first six months of the crisis, the value of Indonesia’s currency fell by 80% and Thailand’s by 50% against the dollar.
To ensure that this does not affect 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 the G20 started. Countries whose economies were growing rapidly or which had the potential to grow rapidly were identified. Everyone was united on one platform.
Until 2007, only finance ministers from member countries attended its meetings. However, the financial crisis that hit Western and rich countries in 2007 and 2008 forced them to take negotiations to the level of heads of state.
Since then, every year, leaders of all member countries come together on one platform and discuss important issues. Initially, America was opposed to it. However, given the urgency of the situation, he later agreed to participate in the summit. The first summit of the G20 countries was held only in Washington DC.
The photo is from the first G20 summit, held in Washington, the US capital.
A total of 18 G20 meetings have taken place so far. The 19th G20 meeting is held in Brazil. In addition to the G20 member countries, the President also invites certain countries and organizations as guests every year.
The invited countries of the G20 2024 are Angola, Egypt, Nigeria, Norway, Portugal, Singapore, Spain and the United Arab Emirates.
What is the work of the G20?
Initially, the goal of the G20 was to discuss issues related to the economy. But over time, its reach has continued to grow. Today, at the G20 meeting, health, agriculture, energy, environment, climate change and the fight against corruption are also discussed.
How is the presidency of the G20 decided? The G20 presidency rotates each year between member countries. It is the Troika which decides where it will be organized. The triumvirate is made up of the country’s past, present and future presidents.
This time there is a troika consisting of India, Brazil and Indonesia. The G20 summit will be hosted in India in 2023. The event will take place in Brazil in 2024. The trio will conclude with the G20 being held in South Africa in 2025.
With South Africa, each country will have the presidency of the G20. After that, America will get the G20 presidency again from 2026.
America is the only country to have hosted the G20 twice (2008, 2009). In the initial phase, the G20 was organized twice a year. However, since 2011 it has been organized once a year.
What was special about the New Delhi Declaration
There is no mention of the war in Ukraine. It was called for each country to respect international law and respect the territorial integrity, sovereignty and international humanitarian law of other countries. In the G20 New Delhi Declaration, all countries condemned all forms of terrorism. announcement. It includes India, UAE, Saudi Arabia, European Union, France, Italy, Germany and America. Consensus has been reached on financing the world’s rapidly developing cities. There was talk of emphasizing the priorities of the South.
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Today, first day of the G20 summit in Brazil: 21 members will participate; PM Modi arrives in Brazil, may meet Chinese president
The 19th G20 summit opens Monday in Brazil. Indian Prime Minister Narendra Modi arrived in Rio de Janeiro, Brazil, to attend the summit. Here, people from the Indian community welcomed him. The summit will take place over two days, November 18 and 19. 19 countries and 2 organizations are part of the G20. This time, the G20 has three main objectives, read all the news…