G 8 countries
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G- 8 Countries

G- 8 Countries

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G 8 countries Presentation Transcript

  • 1. G 8 Countries
  • 2. What is G-8
    • It is a group of industrialised countries formed at the initiative of France in 1975 .
    • To address the first issue of oil crises in 1975.
    • The Group of Eight (G8) refers to the group of eight highly industrialized nations--France, Germany, Italy, Great Britain , Japan, United States, Canada, and Russia--which hold a yearly meeting, the G8 Summit .
    • The main industrialized countries taking part in this process are known as the Group of Eight (G8).
  • 3. Introduction :-
    • An annual Summit at which the Heads of State and Government of the member countries hold talks with a view to finding solutions of the main world issues.
    • France, the United States and Russia are represented by their Heads of State, whereas the United Kingdom, Germany, Japan, Italy and Canada are represented by their respective Heads of Government.
    • The eight members meet once a year at Heads of State and Government level.
    • Meetings are intended to foster consensus on global issues such as economic growth and crisis management, global security, energy, and terrorism.
  • 4. Membership
    • The Group of Eight ( formerly the G6) is a forum, created by France in 1975, for the government of six major countries ie is
    • France, Germany, Italy, Japan, the United Kingdom and the United States.
    • In 1976, Canada joined the group (thus creating the G7).
    • In 1997, the group added Russia thus becoming the G8.
    • Member nations are generally expected to have highly-developed economies and be democracies.
    • The G8, unlike the United Nations, is not an organization or institution, and there is no formal charter or secretariat.
  • 5. Presidency & Summit
    • The G8 is chaired on rotational basis for a period of one year in the order of France, United States, United Kingdom, Russia, Germany, Japan, Italy and Canada.
    • The European Union participates in the G8 as an observer; it is represented at the Summit by the President of the European Council and the President of the European Commission.
    • The country that has the presidency organizes and hosts the Summit.
    • France has hosted the summit on six occasions, in 2011 also it had hosted the summit .
  • 6. Summit
    • It is the meeting of the representatives of the member countries organized on annual basis.
    • It provides an opportunity for direct and informal discussion among the leaders on key issues.
    • It results in the adoption of a political statement, possibly accompanied by additional statements, sectoral action plans.
    • For the last few years G8 had been inviting rep. of African and other countries.
  • 7. Member facts
    • All G8 countries are amongst the thirteen top-ranked leading export countries.
    • The USA, Germany, Italy, France, Russia and Japan are among the top 10 countries with the largest gold reserves.
    • Acc. IMF, G-8 countries are represented in the top eleven economies (by nominal GDP) of the world.
    •   World's 10 largest oil producers (Russia, USA, and Canada)
    • The third and eighth largest oil reserves (Canada and Russia respectively).
    •   Nine largest nuclear energy producers are in the G8 (USA, France, Japan, Russia, Germany, Canada, UK).
    • All of the G8  countries are ranked by the amount of voting power and Special Drawing Rights (SDRs) in the IMF organization.
  • 8. Objectives of G8
    • To identify and work together on issues pertaining to security ,economies , climate change , Peace, geo political issues.
    • Develop framework for regulation for the above issues.
    • It is not a legal entity and does not take binding measures.
  • 9. The G8's Efficacy and Influence
    • The G8 nations constituted 55 percent of global gross domestic product (GDP); by 2004, this figure had decreased to 44 percent.
    • The G8 nations comprise 53.0% of global nominal GDP and 42.5% of global GDP (PPP).
    • G8 ministers also meet throughout the year, such as the G7/8 finance ministers (who meet four times a year), G8 foreign ministers, or G8 environment ministers.
    • Together the eight countries making up the G8 represent about 14% of the world population, but they represent about 60% of the Gross World Product as measured by gross domestic product.
    • All eight nations being within the top 12 countries according to the  CIA World Factbook - ( Central Intelligence Agency )
  • 10. Criticism of the G8
    • Focus only on the needs of industrial rather than developing countries.
    • G8 is increasingly an anachronism.
    • Lacks an administrative structure – does not have a permanent secretariat, or offices for its members.
  • 11. Expanding the G8
    • China and India, up-and-coming economic powers, are notable omissions from the G8.
    • As Richard Haass, President Council on foreign research argues, "the G8 needs to become the G10. Both China and India deserve a seat.“
    • China's inclusion, of course, would clearly mean the end of the G8 as a forum for leading democracies.
    • China and India do belong to the G-20, a forum of finance ministers and central bank governors created by the then-G7.
  • 12. Highlights of 37 th G8 summit 2011-France
    • Held between 26-27 May 2011 in Deauville , France
    • African countries Guinea, Niger, Côte d'Ivoire and Tunisia accepted their invitations for the first time.
    • League of Arab States made its debut to the meeting.
    • Key issues on the agenda :
      • Fukushima nuclear accident
      • European sovereign debt crisis,
      • Conflict in Libya
      • Iran’s nuclear programme,
      • Syria’s crackdown on pro-democracy protests
      • Selection of a new managing director for IMF
  • 13. Highlights of 37 th G8 summit 2011-France
    • $ 20 bn marked for Tunisia and Egyptian reforms affected by Arab spring.
    • OECD engagement in MENA countries.
    • Fight against corruption.
    • Renewed commitment to democratic reforms
    • Commitment to NPT.
  • 14.