Current Affairs

G-20 Virtual World Summit to be held on March 26

G-20 Virtual World Summit to be held on March 26

All G20 nations including India will be joining the summit through a video conference on March 26, 2020.

Mar 25, 2020 20:18 IST

G-20 Virtual World Summit to be held on March 26 1

The first G-20 virtual summit will be held on March 26, 2020 under the chairmanship of Saudi Arabian King Salman. The summit will bring together the world’s 20 major economies who will discuss measures and guidelines to address the COVID 19 pandemic.

All G20 nations including India will be joining the summit through a video conference. The purpose is to discuss mechanisms and responses to coronavirus outbreak as per the WHO guidelines.

The decision to conduct the summit through video conference is taken in light of the ongoing health crisis that has affected economies, education, health all over the world.

Significance of G-20 Virtual Summit:

  • The powerful economies of the world will come together to discuss the mechanisms and process to control pandemic’s impact
  • Indian PM Narendra Modi will also join the virtual summit.
  • The key area of discussion will include the procurement of medical facilities and equipment, particularly in developing countries.
  • Encouraging solidarity, one of the key points in the upcoming G-20 virtual summit will be to encourage countries to waive off restrictions and ban tariff to make cross border trade easy and smooth.

G-20 Countries: Full List

G-20 comprises of 19 countries and European Union

  • Canada
  • China
  • Brazil
  • Argentina
  • Australia
  • India
  • Indonesia
  • Germany
  • France
  • Mexico
  • Italy
  • Japan
  • South Africa
  • Russian Federation
  • Saudi Arabia
  • Turkey
  • South Korea
  • UK
  • US

Background:

Saudi Arabia is the current chair of G-20 took the decision of conducting a virtual summit. The announcement was made on March 17, 2020. The date of the conference was not specified at the time but the purpose was to bring the economies together to discuss the rising economic and health crisis.

The statement put forward by Saudi Secretariat mentioned the requirement of putting coordinated efforts and policies by the G-20 countries that will aim to protect people and economies all over the world from the Corona Virus.

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