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| Sunday, 17 July 2005 |
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Junior Observer |  |
| News Business Features Editorial
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What is the G8 Summit?
You must have heard about the G8 Summit which was held early this month. But do you know what the G8 Summit is all about? The G8 stands for the 'Group of Eight' nations. Group Eight refers to the US, Japan, Germany, France, the UK, Italy, Canada and Russia. This was formerly known as the G7, before Russia officially joined in June 2002. The G8 is the most influential group of developed countries in terms of its role in setting the policy in the international financial system. It began in 1975 when President Giscard d'Estaing of France invited the leaders of Japan, the USA, Germany, the United Kingdom and Italy to Rambouillet, near Paris, to discuss the economic problems of the day. The group expanded to include Canada in 1976 and Russia in 2002. Unlike many other international bodies, the G8 does not have a fixed structure or a permanent administration. It is up to the country that has the Presidency to set the agenda and organise the annual G8 Summit. At the Summit, the leaders of the eight member countries discuss major issues of the day. At each Summit, leaders agree upon certain initiatives; there are follow-up meetings throughout the year to make sure commitments are being honoured. G8 Summits are highly important if we are to manage the effects of globalisation, a task more relevant today than ever before. The G8 is able to help secure political commitment to action on key global issues. The G8 is unique in bringing together the key like-minded players from Asia, Europe and North America. This small, informal grouping is still capable of setting the agenda, thanks to the economic and political weight of its members, and their shared commitment to global security and prosperity. It also gives an opportunity for the world's leaders to discuss major issues. The G8 led in setting up these regional task forces, which many other countries have now joined. They have produced specific recommendations to prevent criminals and terrorists financing their operations. The main themes of the recently held G8 were Africa and climate change. Both are pressing issues for the world. Africa demands particular attention as the world's poorest continent, and climate changes are taking place and is of concern to all. The French Republic, the United States of America, and the Russian Federation are represented at G8 summits by their Heads of State. Canada, the Federal Republic of Germany, the Republic of Italy, Japan and the United Kingdom are represented by their Heads of Government.
G8 countries are represented at the Summit at the level of Heads of State or Government: these individuals have been democratically elected to lead the governments of their countries. The G8 does not claim to speak for the world or for anyone other than the governments of those eight countries. The G8 has taken the lead in finding solutions to global problems such as nuclear cleanup (The G8 Global Partnership Against the Spread of Weapons and Materials of Mass Destruction, Kananaskis, 2002), terrorism, poor country debt (the HIPC initiative) and global diseases (impetus to creation of Global Fund for AIDS, TB and Malaria). **** G8 Leaders Tony Blair Jacques Chirac Vladimir Putin Gerhard Schroder George W Bush Junichiro Koizumi Silvio Berlusconi Paul Martin Jose Manuel Barroso **** Youngsters hold G8 Summit Schoolchildren from the G8 nations took part in a three-day forum to discuss the biggest problems facing the world. They prepared and personally handed over a written communique to Tony Blair and the other G8 leaders at the Gleneagles Hotel on July 6. The summit was known as G8 Edinburgh 2005. The G8 delegates took part in workshops and discussions. The young people's recommendations on dealing with the problems of Africa and the environment was also presented at a Scottish Parliament reception during the Summit. **** G8 summits have achieved many concrete things such as: * Setting up the Global Fund to Fight AIDS, Tuberculosis and Malaria (Global Health Fund). Between them, the G8 have given $1.4bn to this fund. This money is now being used for many different projects: rebuilding clinics in Sierra Leone and training over 2000 healthcare workers in India are just two examples. * Establishing a new relationship with Africa with the G8 Africa Action Plan in response to the African-led New Partnership for Africa's Development (NEPAD). * Making safe nuclear facilities in Russia, through the Global Partnership Against the Spread of Weapons and Materials of Mass Destruction: $20bn was pledged over 10 years for this initiative. * Launching the Heavily Indebted Poor Countries (HIPC) Initiative, an agreed process for cancelling the debt of the world's poorest countries. |
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The European Union participates at the Summit and is represented by the
President of the European Commission and the leader of the country that
holds the presidency of the European Union. During the recently held G8
Summit, UK held the Presidency of the Council of the European Union. The
Presidency of the Council of the European Union rotates between member
nations of the EU. The United Kingdom has the Presidency for six months
from July 1, 2005. 
