Saturday, July 24, 2021

EAM Dr. S. Jaishankar reaches Greece on a two day visit

External Affairs Minister of India Dr. S. Jaishankar has reached Greece on a two-day bilateral visit and met his Greek counterpart Nikos Dendias. Both leaders had a productive discussion on regional and global issues.

Dr. S. Jaishankar took to Twitter, to reiterate that the European country is an important partner in India’s broader European Union (EU) engagement.

Following Greece, the Minister will travel to Italy to attend the G20 Ministerial meeting. This is the first EAM-level visit to Greece in about 18 years, the last one being in 2003, said MEA spokesperson Arindam Bagchi.

About G 20

The G20 is an intergovernmental forum comprising 19 countries and the European Union. From 2020, Italy holds the Presidency of the G20. The Foreign Affairs Ministers` Meeting is one of the ministerial meetings organized as part of the G20 Leaders Summit 2021. The Presidency’s agenda rests upon three main pillars: People, Planet, Prosperity

The G20 is a powerful grouping that brings together the world’s major economies. The G20 member countries collectively account for more than 80% of the global GDP, 75 % of the global trade, and 60 % of the world’s population. The forum has met every year since 1999. A yearly Summit has been held since 2008 with the participation of the respective Heads of State and Government.

Origin

The G7 Finance Ministers announced the formation of the “Group of 20” in 1999, in the aftermath of the 1997 economic crisis, with the goal of involving other countries in discussions related to global economics and finance. In December, the G20 had its first formal summit in Berlin.
Following the financial crisis of 2008, the United States proposed that the G20’s membership be expanded to include Heads of State and Government.

In addition to the Summit, Ministerial meetings, Sherpa meetings (in charge of carrying out talks and negotiations and forging consensus among Leaders), working groups, and special events are also organized throughout the year.

How the G20 works

The G20 does not have a permanent secretariat but its agenda and activities are established by the rotating Presidencies, in cooperation with the membership.
A “Troika”, represented by the country that holds the Presidency, its predecessor, and its successor, works to ensure continuity. The Troika countries are currently Italy, Saudi Arabia, and Indonesia.

Participants

The G20 member countries include- Argentina, Australia, Brazil, China, Canada, France, Germany, Japan, India, Indonesia, Italy, Mexico, Russia, South Korea, South Africa, Saudi Arabia, Turkey, the United States, the United Kingdom, and the European Union. Spain is also invited as a permanent guest.

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