After the successful conclusion of the G20 Summit chaired by India, PM Modi handed over its chairmanship to President Lula de Silva of Brazil.
Place – Bali, Indonesia
Event – G20 meeting
Date – 16 November 2022
The day was the last day of the G20 summit hosted by Indonesia. A joint manifesto was to be announced, but then tension arose between the US and Russia over the Ukraine war. Even after 15 rounds of talks, no consensus could be reached on the release of the manifesto.
Russian Foreign Minister Sergei Lavrov left before the summit manifesto was announced. After this, the Western countries announced the Bali Manifesto as per their wishes. For the first time, the photo of all the Presidents could not be taken together.
India faced the same challenge last year too. But India has got 100% consent of all countries in the manifesto. New Delhi's manifesto avoided mentioning the Russian invasion of Ukraine.
However it was not that easy. A team of Indian diplomats held more than 300 meetings to reach a consensus. More than 200 hours of non-stop conversation. After this a manifesto was prepared. This is also important because any summit is considered successful only when its joint manifesto is announced.
In such a scenario, we will know what G20 organization is all about and to make it successful, India has even made arch enemies like America and Russia.
First of all know how the G20 organization was formed…
The whole world remembers the financial crisis in 2008. Just 11 years before this, in 1997, there was also a financial crisis in Asia. Which is known as Asian Financial Crisis. The crisis started in Thailand and spread to other Asian countries.
As a result of the recession, the debt of ASEAN countries increased by 167% compared to their GDP. A large number of people have become unemployed. In the first six months of the crisis, Indonesia's currency depreciated by 80% and Thailand's by 50% against the dollar.
To ensure that developed countries are not affected, 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 began. Countries were identified whose economies were growing rapidly, or which had the potential to grow rapidly. All were brought on one platform.
Until 2007, only the finance ministers of member states attended its meetings. However, the financial crisis that hit western and developed countries in 2007 and 2008 forced him to take the talks to the presidential level.
Since then, every year the leaders of all the member countries come together and discuss important issues. Initially, America opposed it. However, considering the urgency of the situation, he later prepared for the summit. The first summit of G20 countries was held in Washington DC itself.
This picture is from the first G20 summit held in Washington DC, the capital of America.
A total of 18 meetings of the G20 have been held so far. The 19th meeting of the G20 is being held in Brazil. In addition to the member countries in G20, the President also invites several countries and organizations as guests every year.
The host countries of G20 2024 are – Angola, Egypt, Nigeria, Norway, Portugal, Singapore, Spain and UAE.
What is the job of the G20?
Initially the focus of the G20 was to discuss matters related to the economy. But with time its prevalence increased. Now the G20 meeting also discusses health, agriculture, energy, environment, climate change and curbing corruption.
How is the chairmanship of the G20 decided? The chairmanship of the G20 rotates between member states every year. Where it will be held is decided by the troika, i.e. a troika. The troika consists of the country's past, present and future chairpersons.
This time there is a troika of India, Brazil and Indonesia. In 2023, the G20 summit was organized in India. The event is being held in Brazil in 2024. The trio will conclude with the G20 to be held in South Africa in 2025.
Each country has chaired the G20, with South Africa hosting it. After this, America will get the presidency of G20 again from 2026.
The US is the only country that has hosted the G20 twice (2008, 2009). In the initial phase, the G20 was held twice a year. However, since 2011 it is held once a year.
What was special about the New Delhi Declaration?
- There was no mention of the Ukraine war. It was appealed that every country would abide by international law and respect the territorial integrity, sovereignty and international humanitarian law of other countries.
- New Delhi G20 Declaration (In the Declaration), all countries condemned any form of terrorism.
- 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 world's fastest growing cities.
- There was talk of emphasizing the priorities of the Global South.
Image Credit: (Divya-Bhaskar): Images/graphics belong to (Divya-Bhaskar).
