The G20 is an international forum, made up of 19 countries and the European Union, representing the world’s major developed and emerging economies. Together, the G20 members represent 85 % of global GDP, 75% of international trade and two-thirds of the world’s population.
Because of its size and strategic importance, the G20 has a crucial role in setting the path for the future of global economic growth.
The G20 started out in 1999 as a meeting of finance ministers and central bank governors. Following the global financial crisis in 2008, the urgent need for a meeting of the G20 at the Leaders’ level emerged. For the first time in November 2008 in Washington D.C., G20 Leaders convened and managed to coordinate fiscal, monetary and economic policies to put the global economy on a path to recovery. Since then, the G20 has organically evolved, transforming itself from a global firefighter into a unique international forum to address long-term structural challenges.
This year marks the 10th Anniversary of the G20. At this important juncture, the G20 has an important mission to uphold the true value of multilateralism, and the OECD continues to support this endeavour.