G-20 Foreign Ministers’ Meet held

G-20 Foreign Ministers’ Meet held

Part of: GS Prelims and GS-II- Global Groupings; International Relations

In news

• Recently, Saudi Arabia hosted the G-20 foreign ministers’ meeting. 
• Focus: Cross-border movement amid the Covid-19 pandemic.

Key takeaways

• The foreign ministers acknowledged the importance of opening borders, and promoting measures to allow the economy to thrive in light of the protective measures for the Covid-19 pandemic.
• India updated the G-20 foreign ministers about steps taken by India including Vande Bharat Mission and creation of travel bubbles for the welfare and protection of foreign citizens stranded in India as well as its own citizens abroad.

Important value additions

G-20

• It is an informal group of 19 countries and the European Union.
• Representatives of the International Monetary Fund and the World Bank are also part of G-20.
• It represents about 2/3rd of the world’s population, 85% of global GDP, 80% of global investment and over 75% of global trade.

Do you know?

• It does not have any permanent secretariat or headquarters.
• Currently, Saudi Arabia holds the presidency of G-20. 
• It is the first Arab nation to take over the G20 Presidency.