BREAKING: AFRICAN UNION BECOMES PERMANENT MEMBER OF G-20
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News from India, in the ongoing summit of the G-20 nations confirms that the African Union has been offered a permanent seat in the G-20.
Also, President Bola Tinubu of Nigeria will address the summit at 10.30 am (GMT).
The G20 is composed of most of the world’s largest economies’ finance ministries, including both industrialised and developing countries; it accounts for around 80% of gross world product (GWP), 75% of international trade, two-thirds of the global population, and 60% of the world’s land area.
The G20 was founded in 1999 in response to several world economic crises. Since 2008, it has convened at least once a year, with summits involving each member’s head of government or state, finance minister, or foreign minister, and other high-ranking officials; the EU is represented by the European Commission and the European Central Bank. Other countries, international organizations, and nongovernmental organizations are invited to attend the summits, some permanently.
As of 2023, there are 21 members in the group: Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, South Korea, Japan, Mexico, Russia, Saudi Arabia, South Africa, Turkey, the United Kingdom, the United States, the European Union and the African Union.
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