CEVAP:

The Group of 20, also called the G-20, is a new informal global governance body. The G-20 forum replaced the Group of 8 (G-8) as the main global forum for international economic cooperation. The G-20 is composed of members of the former Group of 7 (G- 7) and 12 other nations as well as the European Union. The G-20 was formed in the late 1990s in response to the financial crises. It was designed to serve as a forum for major countries to discuss global economic problems. Its first meeting was held in Berlin in December 1999.

Since the G-20 is an informal forum, its decisions are not binding. The mandate of the G-20 is to promote global economic growth, international trade, and financial market regulation. There are no formal criteria for G-20 membership, and its composition has remained unchanged since its inception in1999.

The G-20 includes the leading economies in the world. These countries together constitute approximately 80 % of the world trade, 85 % of the gross world product, and approximately half of total land area around the world. Members are from all continents, and they make up the two-thirds of the total world population.

(The member countries are specified in Table 6.7 on page 183)