G7

About:

• The G-7 or ‘Group of Seven’ are Canada, France, Germany, Italy, Japan, the United Kingdom, and the United States.
  
  
• The G-7 nations meet at annual summits that are presided over by leaders of member countries on a rotational basis. The summit is an informal gathering that lasts two days, in which leaders of member countries discuss a wide range of global issues.
  
  
• The G-7 does not have a formal constitution or a fixed headquarters.
  
  
• The decisions taken by leaders during annual summits are non-binding.
  
  

Timeline:

• It is an intergovernmental organisation that was formed in 1975 by the top economies of the time as an informal forum to discuss pressing world issues.
  
  
• Canada joined the group in 1976, and the European Union began attending in 1977.
  
  
• The G-7 was known as the ‘G-8’ for several years after the original seven were joined by Russia in 1997. The Group returned to being called G-7 after Russia was expelled as a member in 2014 following the latter’s annexation of the Crimea region of Ukraine.