G 8 Countries

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).
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.






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.







What Happen There?
The G8 summit is a busy schedule of meetings,
statements and photographs for the press.
On the second day of the summit, leaders gather for an
informal talk without lots of officials or the media. In
the past leaders have discussed issues such as peace in
the world and how to stop terrorism.
The G8 members can agree on plans and set objectives
but they can't force anyone to agree with them.
However, the wealth and power of the G8 members
means they are often listened to by other countries.

How long does the summit last for?

The G8 summit lasts for two days.

Why do people protest at G8 summits?

Recent summits have seen big protests and sometimes
violence, meaning security is very high.
Critics say it's wrong that big countries like China and
India are not represented.
There are also no African or Latin American members
and some says that the G8 leaders ignore the needs of
the wider world.

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.
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.
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 fifth 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.
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.


The G8's Efficacy and Influence

G8 members account for 15 percent of the world population,
53 percent of global gross domestic product
In 2012, The G8 nations comprise 50.1% of global nominal
GDP and 40.9% 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.
All eight nations being within the top 12 countries according to
the CIA World Factbook - (Central Intelligence Agency )







Crimean crisis and Russian suspension
In March 2, 2014, the remaining non-Russian G8
members, the European Union, and the European
Commission suspended the planned G8 summit in the
Russian city of Sochi and would instead meet as the G7
in Brussels blaming Russia's role in the Crimean crisis
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.
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.
G 10
Group of countries
that have agreed to
participate in the
General
Arrangements to
Borrow (GAB).
Consult and co-
operate on economic,
monetary and
financial matters.
What is GAB?
The GAB was established in 1962
The governments of eight International Monetary Fund
(IMF) members
(Belgium, Canada, France, Italy, Japan, the Netherlands,
the United Kingdom, and the United States)
and the central banks of
(Germany and Sweden)
agreed to make resources available to the IMF for drawings
by participants, and, under certain circumstances, for
drawings by nonparticipants.

Association of 11th member- Switzerland


International organizations that
are official observers of the
activities of the G10
The Bank for International Settlements (BIS)
European Commission
International Monetary Fund
Organisation for Economic Co-operation and
Development.
Credit available
The potential amount of credit available to the IMF
under the GAB totals SDR 17bn (about $26bn), with an
additional SDR 1.5bn available under an associated
arrangement with Saudi Arabia.
GAB participants and credit
amounts
Smithsonian Agreement
An agreement reached by (G10) in 1971
Re-established an international system of fixed
exchange rates without the backing of silver or gold,
and allowed for the devaluation of the U.S. dollar.
MEMBER COUNTRIES
AFRICA
Algeria
Egypt
Kenya
Nigeria
Senegal
Zimbabwe

ASIA
India
Indonesia
Iran
Malaysia
Sri Lanka

LATIN AMERICA & CARIBBEAN
Argentina
Brazil
Chile
Jamaica
Mexico
Venezuela
The Group of 15 (G-15) is an informal forum set up to
foster cooperation and provide input for other
international groups, such as the World Trade
Organization and the Group of Eight.
It was established at the Ninth Non-Aligned
Movement Summit Meeting in Belgrade, Yugoslavia,
in September 1989 and is composed of countries from
Latin America, Africa, and Asia with a common goal of
enhanced growth and prosperity.
The G-15 focuses on cooperation among developing
countries in the areas of investment, trade, and
technology.
Membership has since expanded to 18 countries but
the name has remained unchanged.
Chile, Iran and Kenya have since joined the Group of 15
whereas Yugoslavia is no longer part of the group.
Peru, a founding member-state, decided to leave the
G-15 in 2011.
OBJECTIVES
To harness the considerable potential for greater and mutually
beneficial cooperation among developing countries
To conduct a regular review of the impact of the world situation and of
the state of international economic relations on developing countries
To serve as a forum for regular consultations among developing
countries with a view to coordinate policies and actions
To identify and implement new and concrete schemes for South-South
cooperation and mobilize wider support for them
To pursue a more positive and productive North-South dialogue and to
find new ways of dealing with problems in a cooperative, constructive
and mutually supportive manner.

PURPOSE
Act as a catalyst for greater cooperation between
leading developing countries.
FUNCTIONS
Summit of Heads of State and Government: The G-15's summit is
organized biennially, with the venue being rotated among the three
developing regions of the G-15 membership.
Annual meetings of Ministers of Foreign Affairs: G-15 Ministers of
Foreign Affairs typically meet once a year to coordinate group activities
and to prepare for the nest summit of G-15 leaders.
Steering Committee (Troika): A Steering Committee or Troika is
composed of three Foreign Ministers, one from the preceding summit
host country, the present host country and the anticipated next host
countries. These three are responsible for oversight and coordination.
Personal Representatives of Heads of State and Government: Each
member country is represented by Personal Representatives of Heads
of State and Government who meet regularly in Geneva.

ADDITIONAL INFORMATION
In addition, the Federation of Chambers of
Commerce, Industry and Services, (FCCIS) is a private
sector forum of G-15 member countries.
The purpose of the FCCIS is to coordinate and
maximize efforts which promote business, economic
development and joint investment in G-15 nations.

In 2010, the chairmanship of the G-15 was accepted
by Sri Lanka at the conclusion of the 14th G-15
summit in Tehran.

Date Host country Host city Host
1st G-15 summit 13 June 1990 Malaysia Kuala Lumpur Mahathir Mohamad
2nd G-15 summit 2729 November 1991 Venezuela Caracas Carlos Andrs Prez
3rd G-15 summit 2123 November 1992 Senegal Dakar Abdou Diouf
4th G-15 summit 2830 March 1994 India New Delhi P. V. Narasimha Rao
5th G-15 summit 57 November 1995 Argentina Buenos Aires Carlos Menem
6th G-15 summit 35 November 1996 Zimbabwe Harare Robert Mugabe
7th G-15 summit 28 October 5 November 1997 Malaysia Kuala Lumpur Mahathir Mohamad
8th G-15 summit 1113 May 1998 Egypt Cairo Hosni Mubarak
9th G-15 summit 1012 February 1999 Jamaica Montego Bay P. J. Patterson
10th G-15 summit 1920 June 2000 Egypt Cairo Hosni Mubarak
11th G-15 summit 3031 May 2001 Indonesia Jakarta Abdurrahman Wahid
12th G-15 summit 2728 February 2004 Venezuela Caracas Hugo Chvez
13th G-15 summit 14 September 2006 Cuba Havana Ral Castro
14th G-15 summit 17 May 2010 Iran Tehran Mahmoud Ahmadinejad
15th G-15 summit 2012 Sri Lanka Colombo Mahinda Rajapaksa
GENEVA, 6
th
Feb 2014
Luncheon Meeting of G-15 Personal
Representatives
111th Meeting of G-15 Personal Representatives



Geneva, 11 July 2014
111
th
Meeting of G-15 Personal Representatives
Reference
http://www.answers.com/Q/W
hat_does_G8_do