G 8 countries

G- 8 Countries

1. G 8 Countries

2. What is G-8
It is a group of industrialised countries formed at the
initiative of France in 1975 .
To address the first issue of oil crises in 1975.
The Group of Eight (G8) refers to the group of eight
highly industrialized nations--France, Germany, Italy,
Great Britain, Japan, United States, Canada, and
Russia--which hold a yearly meeting, the G8 Summit .
The main industrialized countries taking part in this
process are known as the Group of Eight (G8).

3. Introduction :-
An annual Summit at which the Heads of State and
Government of the member countries hold talks with a view to
finding solutions of the main world issues.
France, the United States and Russia are represented by their
Heads of State, whereas the United Kingdom, Germany, Japan,
Italy and Canada are represented by their respective Heads of
Government.
The eight members meet once a year at Heads of State and
Government level.
Meetings are intended to foster consensus on global issues such
as economic growth and crisis management, global security,
energy, and terrorism.

4. Membership
•The Group of Eight ( formerly the G6) is a forum, created by France
in 1975, for the government of six major countries ie is
France, Germany, Italy, Japan, the United Kingdom and the United
States.
•In 1976, Canada joined the group (thus creating the G7).
•In 1997, the group added Russia thus becoming the G8.
•Member nations are generally expected to have highly-developed
economies and be democracies.
•The G8, unlike the United Nations, is not an organization or
institution, and there is no formal charter or secretariat.

5. Presidency & Summit
The G8 is chaired on rotational basis for a period of
one year in the order of France, United States, United
Kingdom, Russia, Germany, Japan, Italy and Canada.
The European Union participates in the G8 as an
observer; it is represented at the Summit by the
President of the European Council and the President
of the European Commission.
The country that has the presidency organizes and
hosts the Summit.
France has hosted the summit on six occasions, in
2011 also it had hosted the summit .

6. Summit
It is the meeting of the representatives of the member
countries organized on annual basis.
It provides an opportunity for direct and informal
discussion among the leaders on key issues.
It results in the adoption of a political statement,
possibly accompanied by additional statements,
sectoral action plans.
For the last few years G8 had been inviting rep. of
African and other countries.

7. Member facts
All G8 countries are amongst the thirteen top-ranked leading
export countries.
The USA, Germany, Italy, France, Russia and Japan are among
the top 10 countries with the largest gold reserves.
Acc. IMF, G-8 countries are represented in the top eleven
economies (by nominal GDP) of the world.
 World's 10 largest oil producers (Russia, USA, and Canada)
The third and eighth largest oil reserves (Canada and Russia
respectively).
 Nine largest nuclear energy producers are in the G8 (USA,
France, Japan, Russia, Germany, Canada, UK).
All of the G8 countries are ranked by the amount of voting
power and Special Drawing Rights (SDRs) in the IMF
organization.

8. Objectives of G8
To identify and work together on issues pertaining to
security ,economies , climate change , Peace, geo
political issues.
Develop framework for regulation for the above
issues.
It is not a legal entity and does not take binding
measures.

9. The G8's Efficacy and Influence
The G8 nations constituted 55 percent of global gross
domestic product (GDP); by 2004, this figure had decreased to
44 percent.
The G8 nations comprise 53.0% of global nominal
GDP and 42.5% of global GDP (PPP).
G8 ministers also meet throughout the year, such as the G7/8
finance ministers (who meet four times a year), G8 foreign
ministers, or G8 environment ministers.
Together the eight countries making up the G8 represent
about 14% of the world population, but they represent about
60% of the Gross World Product as measured by gross
domestic product.
All eight nations being within the top 12 countries according to
the CIA World Factbook - (Central Intelligence Agency )

10. Criticism of the G8
Focus only on the needs of industrial rather than
developing countries.
G8 is increasingly an anachronism.
Lacks an administrative structure – does not have a
permanent secretariat, or offices for its members.

11. Expanding the G8
China and India, up-and-coming economic powers,
are notable omissions from the G8.
As Richard Haass, President Council on foreign
research argues, "the G8 needs to become the G10.
Both China and India deserve a seat.“
China's inclusion, of course, would clearly mean the
end of the G8 as a forum for leading democracies.
China and India do belong to the G-20, a forum of
finance ministers and central bank governors
created by the then-G7.

12. Highlights of 37
th
G8 summit 2011-France
Held between 26-27 May 2011 in Deauville , France
African countries Guinea, Niger, Côte d'Ivoire and
Tunisia accepted their invitations for the first time.
League of Arab States made its debut to the meeting.
Key issues on the agenda :
Fukushima nuclear accident
European sovereign debt crisis,
Conflict in Libya
Iran’s nuclear programme,
Syria’s crackdown on pro-democracy protests
Selection of a new managing director for IMF

13. Highlights of 37
th
G8 summit 2011-France
$ 20 bn marked for Tunisia and Egyptian reforms
affected by Arab spring.
OECD engagement in MENA countries.
Fight against corruption.
Renewed commitment to democratic reforms
Commitment to NPT.