GROUP OF TWENTY
G20 (Abbreviation for Group of 20) is an international forum of 20 big economies of the world, representing more than 80% of the world’s GDP. It was established in September 1999, following a meeting of Ministers of Finance and Governors of Central Banks of all members of G7 (including Canada, the US, Japan, Germany, France, Great Britain and Italy) in Washington D.C, America, with an aim of creating a premier forum for developed as well as developing nations which play an important role in the global economy after the Asian economic recession in 1997 and 1998. Amid the global economic crisis in 2008, G20 transformed itself into yearly conferences among national leaders of the members, along with some invited nations and representatives of other international forum and organizations (except 2009 and 2010, when meetings were held semi-annually).
Currently, the members of G20 are: Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, Mexico, Republic of Korea, Republic of South Africa, Russia, Saudi Arabia, Turkey, United Kingdom, United States of America, and European Union (EU). Since 2011, three selected countries, including the current, previous and next G20 presidencies (this year is Japan) constitute the “troika” and cooperate with others to prepare for the next G20 summit.
Topic 1: Developing a Sustainable Framework for Offshore Oil-drilling
Topic 2: Strengthening International Regulations Regarding Tariffs on Raw Materials
My Khanh Ton Nu
Quoc Loc Duong
Viet Long Than