Bali, 14 November 2022 (TDI): The Group of Twenty (G20) summit, which brings together the heads of the world’s largest economies, will take place on Tuesday in Bali, Indonesia.
The Indonesian G20 presidency will hold a two-day summit of G20 leaders from 15-16 November 2022.
Theme
The G20 leaders will debate, among other things, the three priorities of Indonesia’s G20 presidency. These include Global health architecture, Digital transformations, and Sustainable energy transitions, under the theme “Recover Together, Recover Stronger.”
About the G20
The G20 is an intergovernmental forum. It brings together the major economies of the globe to talk about pressing issues affecting the global economy.
Participants
Argentina, Australia, Brazil, Canada, China, Denmark, Finland, France, Germany, Greece, Hong Kong, Italy, Japan, Mexico, Republic of Korea, Russia, Saudi Arabia, South Africa, Turkey, United Kingdom (UK), United States (US), and the European Union (EU) are all G20 members.
Spain has also been invited as a permanent guest. Nearly two-thirds of the world’s population, 85% of its economic production, and 75% of its commerce are comprised of G20.
Since Russian President Vladimir Putin withdrew, Sergey Lavrov, his veteran Foreign Minister, will represent Russia. Moreover, the first significant diplomatic test for British Prime Minister, Rishi Sunak will be in Bali.
He is expected to address Russia’s invasion of Ukraine and stress support for Kyiv. “We will call out Putin’s regime. Lay bare their utter contempt for the kind of international cooperation and respect for sovereignty that forums like the G20 represent,” Sunak said.
Additionally, Volodymyr Zelensky, the President of Ukraine, has been asked to participate virtually at the meeting.
Retno Marsudi, Indonesia’s Foreign Minister, explained how challenging it was to hold the conference in such a volatile geopolitical environment. “It might be the most challenging G20 summit yet,” she remarked.
Key Issues
The context for the bilateral meetings will be rising global tensions brought on by the invasion of Ukraine. This comprises of economic consequences, the climate crisis, North Korea’s nuclear programme, and China’s expanding global ambitions.
Furthermore, it is the largest gathering since the coronavirus pandemic began. Also, Indonesia has created an agenda that emphasizes renewable energy, global health initiatives, and economic recovery from the pandemic.
Joko Widodo, President of Indonesia, had hoped that the summit would give powerful nations a chance to put aside their differences.
Also, to concentrate on resolving urgent global issues. These include COVID-19’s ongoing health risks, upcoming economic recession, and sustainable development.
In this regard, the G20 is intended to be about economy and development, not politics, according to Widodo. The Italian G20 leadership held the previous G20 conference in Rome in 2021.
After the summit, the G20 leaders adopted a statement in which they resolved to improve their coordinated response to the worldwide COVID-19 pandemic and prepare the road for a global economic recovery.
