Since November 12, 2010, France has chaired the G20. The President of the French Republic has chosen Cannes to be the host city of the summit on November 3 and 4, 2011.
The G20 was created in 1999 in response to financial crises in emerging countries. Initially, it was intended to bring together once a year the finance ministers and central bank governors from industrialized and emerging countries to facilitate international economic consultation.
The G20 was redefined at the end of 2008 under France’s initiative: faced with the most severe economic and financial crisis since the Second World War, the G20 transformed into an economic steering committee, bringing together key public decision-makers at the highest level. During the founding Washington Summit in November 2008, the heads of state and government agreed on an exceptional action plan to prevent the collapse of the financial system and the global economy.
The G20 has become the primary framework for economic policy coordination.
WHO IS A MEMBER OF THE G20?
The major emerging and developed economies: South Africa, Germany, Saudi Arabia, Argentina, Australia, Brazil, Canada, China, South Korea, the United States, France, India, Indonesia, Italy, Japan, Mexico, the United Kingdom, Russia, Turkey, the European Union, and Spain as a permanent guest.
The G20 represents 85% of the world’s economy and 2/3 of the world’s population.
HOW DOES THE G20 FUNCTION?
The G20 operates on an annual rotating presidency system. Each year, a G20 member country is responsible for organizing and advancing the preparatory negotiations for the summits of heads of state and government throughout the year. France has the honor of assuming this responsibility for 2011.
Ministerial meetings are organized throughout the year to prepare the Summit of Heads of State and Government. Traditionally, finance ministers and central bank governors meet several times a year. In 2011, the French G20 presidency decided to also convene ministers of Agriculture in June and ministers of Labor and Employment in September.
An International Event in Cannes
The event, which constitutes the largest international summit ever hosted in France, will gather, at the invitation of the President of the Republic, 25 heads of state and government, 5 invited countries, 7 international organizations, and key countries of the world.
Concurrent Events
B20 – the Business 20
Wednesday, November 2, and Thursday, November 3, 2011
Will bring together the finance ministers of states and governments as well as a hundred French and international companies.
Location: Hôtel Martinez in Cannes
L20 – the Labour 20
Wednesday, November 2, and Thursday, November 3, 2011
Meeting of French and international trade union organizations.
Location: Cannes
YES – the Young Entrepreneur Summit
From Monday, October 31 to Wednesday, November 2, 2011
Location: Palais des Congrès de Nice Acropolis in Nice
The Alter-Summit Event
Date: Tuesday, November 1, 2011
Location: Nice
