The 17th G20 Heads of State and Government Summit took place on 15-16 November 2022 in Bali, Indonesian.
- Indonesian President Joko Widodo handed over the G20 presidency to Prime Minister Narendra Modi, who said taking over the Presidency of the grouping is a matter of pride for every citizen in India.
Key points
- The world leaders adopted a joint declaration condemning Russia’s war in Ukraine.
- “Today’s era must not be of war,” the declaration said, echoing the remark made by Prime Minister Narendra Modi during his bilateral meeting with Russian President Vladimir Putin on the margins of the SCO summit in September.
- The declaration welcomed the Turkey and UN-brokered Black Sea Grain Initiative that secured a Russia Guarantee to allow the export of Ukrainian grain.
- G-20 nations have expressed deep concern over the challenges posed to global food security exacerbated by current conflicts and tensions and expressed commitment to taking urgent actions to save lives, prevent hunger and malnutrition.
- The member nations called for an accelerated transformation towards sustainable and resilient agriculture and food systems and supply chains.
- The declaration expressed commitment to protect the most vulnerable from hunger by using all available tools to address the global food crisis.
- The G20 called for international collaboration to develop digital literacy and harness the positive impacts of “digital transformation”, the theme of one of three working sessions of the summit.
About G20
- The Group of Twenty, or G20, is the premier forum for international cooperation on the most important aspects of the international economic and financial agenda. It brings together the world’s major advanced and emerging economies.
- In December 1999, the Finance Ministers and Central Bank Governors of advanced and emerging countries of systemic importance met for the first time in Berlin, Germany, for an informal dialogue on key issues for global economic stability.
- Since then, Finance Ministers and Central Bank Governors have met annually. India hosted a meeting of G20 finance ministers and central bank governors in 2002.
- G20 was raised to the Summit level in 2008 to address the global financial and economic crisis of 2008.
- The G20 members are Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, South Korea, Mexico, Russia, Saudi Arabia, South Africa, Turkey, the UK, the US and the European Union.
- The G-20 operates without a permanent secretariat or staff. The chair rotates annually among the members and is selected from a different regional grouping of countries.
- The chair is part of a revolving three-member management group of past, present and future chairs referred to as the Troika.
- The preparatory process for the G20 Summit is conducted through the established Sherpa and Finance tracks that prepare and follow up on the issues and commitments adopted at the Summits.
- The Sherpas’ Track focuses on non-economic and financial issues, such as development, anti-corruption and food security, while addressing internal aspects such as procedural rules of the G20 process.
- The Sherpas carry out important planning, negotiation and implementation tasks continuously.
