The Group Of 8: Most Industrialized Countries Of The World
June 27, 2016
Nations of the world have formed many legions for various purposes. The G8 is such a gathering of the 8 most industrialized nations in the world who holds an annual meeting named the G8 summit to agree upon matters like global security, sustainable development, terrorism, alternative energy and other such global concerns. The presidents, prime ministers, foreign and finance ministers of the 8 nations participate in the summit to discuss international matters and arrive upon conclusions and possible solutions for them. United Kingdom, United States of America, Japan, Canada, Italy, France, Germany and Russia are the 8 member countries of the G8 and since 2014, resolutions has been passed to exclude Russia and include the European Union to the G8.
It is said that the total GDP of the G8 countries adds up to more than 50% of the global economy making the G8 group of countries the most influential and the most economically powerful countries of the world. Initially the G8 was started in 1975 with only six members; UK, USA, West Germany, Japan, France and Italy which was at that time referred to as the G6 or the Group of 6. Later in 1976, Canada joined the group and Russia joined in year 1998 as a fully participating member. At present, Russia has been suspended by the organization with the consent of the majority as Russia has been continuously supporting Syria with their arms regime as well as the issues that were related to the invasion of Ukraine in 2014. The European Union has joined as a “none numerated” member of the group in 2014.
The annual summit of the group of 8 is held with the participation of the heads of state of the respective nations, and all conference event management in Singapore activities are to be organized by the country which holds the presidency during a particular year. 41 summits have been held up to now since the first summit which was held in November 1975 and with the last summit being held in Germany, 2015 with the leadership of its Chancellor, Angela Merkel.
The 42nd summit is to be held in Japan on 26th and 27th of May who holds the presidency of the group for year 2016, and all conference event management organizing activities is to be done by the host leader, Shinzo Abe, the current Prime Minister of Japan. There is no formally known structure or an administration process to this group as the UNO or the World Bank. It has no permanent secretary and the presidency of the organization rotates annually among the member countries in a pre-set order.
In addition to the G8 group, there are separate meetings held, like the G8 plus 5 meetings and G20 meetings. The G8 plus 5 includes five additional countries named “outreach countries” that are Brazil, China, India, Mexico and South Africa. Apart from that the youth summit of the G8 which is known as the Y8 is also held each year.