President Bola Ahmed Tinubu is set to participate in the G20 Summit 2023, scheduled to take place on September 9th and 10th in New Delhi, India.
The summit will convene heads of state, government leaders, and delegates from various member countries, as well as G20 invitees, for a two-day event.
Among those expected to attend are US President Joe Biden, UK PM Rishi Sunak, Canadian PM Justin Trudeau, Japanese PM Fumio Kishida, and Saudi Arabian King Salman bin Abdulaziz Al Saud.
As part of its preparations for the Summit, the Delhi government has ordered all government offices and educational bodies situated in the city to remain closed. Security has been ramped up in the city, and major traffic restrictions are in place.
The G20 or the Group of Twenty comprises 19 countries (Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, Republic of Korea, Mexico, Russia, Saudi Arabia, South Africa, Turkey, United Kingdom, and the United States) and the European Union.
It was formed in 1999 in the backdrop of the financial crisis of the late 1990s that hit East Asia and Southeast Asia in particular and aims to secure global financial stability by involving middle-income countries.
G20 members represent around 85 per cent of the global GDP, over 75 per cent of global trade, and about two-thirds of the world population.
As a forum for international economic cooperation, it plays an important role in shaping and strengthening global architecture and governance on all major international economic issues.
The G20 Presidency rotates annually among the members – the Presidency is responsible for bringing together the G20 agenda, organising its workings and hosting summits. India holds the Presidency from December 1, 2022, to November 30, 2023.
After India, Brazil will take over the G20 presidency in 2024, followed by South Africa in 2025.