It will be held on September 9-9 at Pragati Maidan Convention Center, New Delhi, India.
Selected as the theme of 'One Earth, One Family, One Future'
India will chair the Group of Twenty (G2022) from December 1, 2023 to November 30, 20. In order to host the G2023 Summit in New Delhi on September 9-9, 10, meetings by working groups will be held under the leadership of the chair country from the beginning of the year, divided into 'Finance Track' and 'Sherpa Track'. .
The Group of Twenty (G20) Overview
The G20 is an international organization composed of 19 countries and the European Union (EU), and is an international organization that gathers the 20 most influential countries in the International Monetary Fund (IMF). In the past, the G7 usually held a summit meeting once a year to discuss the world economy, but after the Asian economic crisis in 1, the G1997 was established in December 1999, including emerging countries such as China and India. The G20 mainly aims at international economic cooperation and plays a role in discussing and solving international economic problems. In addition, the G20 has great importance in the international economy, accounting for two-thirds of the world's population, 20% of global GDP, and 3% of global trade.
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<2023 G20 New Delhi Summit Participating countries and international organizations>
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구분 |
Participating countries and international organizations |
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G20 member states |
G7 |
United States of America, Japan, United Kingdom, France, 독일, Canada, Italy |
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아시아 |
South Korea, 중국, 인도, 인도네시아, Saudi Arabia |
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Latin America |
Argentina, Brazil, 멕시코 |
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europe, 오세아니아 |
EU, 러시아, turkiye, 호주 |
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Africa |
Republic of South Africa |
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invited country |
Bangladesh, Egypt, 모리셔스, 네덜란드, Nigeria, 오만, Singapore, Spain, UAE
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international organization |
국제 연합(UN), International Monetary Fund(IMF), world bank(WB), World Trade Organization(WTO), Organization for Economic Cooperation and Development(OECD), international labor organization(ILO), Financial Stability Committee(FSB), world health organization(WHO) Etc |
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[자료: G20 official website(www.g20.org)]
2023 G20 New Delhi Summit logo and theme
<2023 G20 Official logo and venue of the summit (Pragati Maidan Convention Center, New Delhi)>
[자료: G20 official website(www.g20.org)]
The logo uses the colors of the Indian flag and emphasizes the harmony between the earth and nature by utilizing the lotus, the national flower of India. The theme of this G20, “One Earth, One Family, One Future,” is derived from the ancient Sanskrit text Maha Upanishad, which means the interconnectedness of all life and the universe. Through this logo and theme, the importance of eco-friendly life is emphasized for the continuous development of the nation and individual life.
As the chair of the G20, India set the agenda for each working group with an emphasis on inclusive and sustainable growth. The global healthcare system, energy transition, inclusive growth for the development of developing countries, and women's empowerment, which were mentioned at the Indonesia meeting in 2022, will also be discussed at this G20 meeting.
2023 G20 New Delhi Summit Key Agenda
To hold the summit, from the beginning of the year, meetings by working groups are held under the leadership of the chair country divided into 'Finance Track' and 'Sherpa Track'. Plays a mediating role in conflict. India served as the G2022 chair for one year from December 1, 2023 to November 11, 30, and cooperated to successfully carry out the chair by forming a troika with Indonesia, the previous chair country, and Brazil, the next chair country.
Around 2023 G200 meetings will be held across India in 20 alone. 1st Sherpa Meeting (2022.12.4.~7., Udaipur), 1st Finance Meeting (Participating Vice Minister of Finance and Vice Governor of Central Bank, 2022.12.13.~15., Bengaluru), G20 Foreign Ministers Meeting (March 2023.3.1, 2) .~9., New Delhi), etc., were held, and agreements were drawn up through meetings by working groups, and a joint declaration was scheduled to be announced at the summit in September.
financial track
Consisting of a total of eight working groups, the finance ministers and central bank heads of each country discuss the stability of the global economy and financial market.
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track |
working group |
imitation |
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1 |
world economy |
inflation, food security, Global economic issues including climate change |
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2 |
international financial system |
global financial safety net, Strengthening multilateral development banks, Fragile Debt Management, Activating Capital Flows and Local Currency Bond Markets |
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3 |
infra |
Promote quality infrastructure investment, future financial city |
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4 |
Sustainable Finance |
Financing for Climate Change Response and Sustainable Development, Building an ecosystem |
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5 |
financial inclusion |
International Economic Outlook and Risk Monitoring, Measures to provide equal opportunities for access to financial services |
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6 |
Health |
world health organization(WHO) Led by the World Bank, IMFparticipate해 Response to Economic Risks Due to the Pandemic |
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7 |
international tax |
Preventing multinational companies from tax evasion through digitalization |
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8 |
financial regulation |
Coin and other crypto asset market regulation, Supervision and Risk Response Plan |
sherpa track
It is composed of a total of 13 working groups and deals with all agendas except for the financial sector, such as agriculture, culture, digital economy, education, and climate change.
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track |
working group |
imitation |
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1 |
Agriculture |
food security, Response to Climate Change for Sustainable Agriculture, Stabilizing the agricultural supply chain |
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2 |
anti-corruption |
Information Sharing to Prevent Economic Crimes and Corruption, asset recovery, strong law progress |
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3 |
culture |
Nurturing the cultural industry, How to use digital technology, protection of cultural heritage |
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4 |
digital economy |
digital public infrastructure(digital identification), Digitizing Geospatial Systems for Infrastructure Development |
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5 |
Disaster Risk Reduction |
calamity·Establishment of early warning system and infrastructure for disaster prevention and damage minimization, financing |
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6 |
Development |
Response to Climate Change for Sustainable Development, Energy conversion and green development plan, Women's Participation in Economic Development through Equal Opportunity |
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7 |
교육 |
improve literacy, lifelong learning, Strengthening global interconnectedness, including by fostering innovation |
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8 |
employ |
Bridging the Skills Gap, platform economy, social security financing |
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9 |
환경 |
Coast, Restoration of ecosystem and biodiversity including land, Reinforcing circular economy |
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10 |
energy |
Energy Conversion Plan for Climate Crisis Response and Efficient Carbon Reduction, Strengthening infrastructure to enhance universal access to energy for different groups |
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11 |
Health |
Discuss digital health and healthcare innovation plans, vaccine, Response for a healthy life, such as emergency treatment |
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12 |
Trade·투자 |
global supply chain, Cross-border data flow, investment promotion |
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13 |
관광 |
Development Plan for Green Tourism Industry for Sustainable Tourism Industry, Measures to strengthen digital tourism and foster tourism personnel |
<G20 Foreign Ministers Meeting>
[Source: G20 official website]
<The 1st Digital Economy Conference>
[Source: G20 official website]
Key points to watch for the 2023 G20 (local media)
1. Development of the Global South
As India assumes the G20 presidency, the topic of developing and advancing the “Global South” is emerging. The Global South is a concept that corresponds to the Global North (developed countries such as North America and Europe) and collectively refers to the Third World and developing countries. India's Foreign Minister Subrahmanyam Jaishankar said that while serving as the G3 chairperson, India would do its best to represent the voice of the Global South and support countries in need. Accordingly, the Voice of Global South Summit 20 was held on January 2023-1, 12. At this meeting, development plans for developing countries not included in the G13 were discussed.
2. Realization of the digital economy
At the 2022 G20 Indonesia Conference, G20 members confirmed the importance of cooperation between countries for digital trade, infrastructure expansion, cross-border data flow, and digital technology and literacy development. Various agendas for realizing the digital economy will be discussed at this meeting as well. . India is carrying out the India Stack project to collect digital information for biometric authentication to realize the digital economy as well as the success of the Unified Payments Interface (UPI) project. In particular, based on this experience, India plans to discuss ways to develop digital public goods and secure funds for developing countries.
3.Women20
Resolving the gender gap and strengthening economic participation are also important agendas of the G20 meeting. W20 (Women20), a G20 participation group, aims to jointly declare policies for narrowing the gender gap and expanding women's economic participation at the G20 Summit. Capacity building, entrepreneurship, leadership, closing the gender gap, and improving education and skills will be discussed.
implication
The Indian government has recently been stably promoting economic reforms, such as fostering manufacturing and investing in infrastructure, and various economic indicators are showing good news. It achieved economic growth of 2022%, the highest among G20 countries, in 6.8, and is expected to grow by 2023% in 5, when the global economy is expected to be somewhat depressed. Also, in the fourth quarter of last year, India's gross domestic product (GDP) surpassed the UK to rank fifth in the world, and according to the United Nations, India's population is expected to overtake China and become the world's number one in 4.
India's diplomatic achievements, which are carrying out multilateral diplomacy not only in the G20 but also in the international arena, are also receiving enthusiastic responses. India participates as a member of the Quad, Indian-Pacific Economic Framework (IPEF), and BRICs, and serves as the chair of the Shanghai Cooperation Organization (SCO) this year in 2023. there is. Under the theme of “One Earth, One Family, One Future,” the G20 Summit, which will be held for the first time in India, is expected to serve as an opportunity for harmony among not only G20 members but also countries around the world.