Why in News?
- Recently, Foreign Ministers from the Group of Seven (G7) countries (USA, UK, Canada, France, Germany, Italy and Japan) held a meeting in London, UK.
- The 47th G7 Summit will be held in June 2021. The UK is the host country.
- Invited Guests: Australia, India, South Korea, South Africa and the Chair (Brunei Darussalam) of the Association of Southeast Asian Nations (ASEAN).
- Australia, India, South Korea and South Africa will also join the G7 Summit in June.
- It is an intergovernmental organisation that was formed in 1975.
- The bloc meets annually to discuss issues of common interest like global economic governance, international security and energy policy.
- The G7 does not have a formal constitution or a fixed headquarters. The decisions taken by leaders during annual summits are non-binding.
- The groundwork for the summit, including matters to be discussed and follow-up meetings, is done by the “sherpas”, who are generally personal representatives or members of diplomatic staff such as ambassadors.
- The leaders of important international organizations like European Union, IMF, World Bank and the United Nations are also invited.
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