What is G7?

About G7:

• It is an intergovernmental organisationof leading industrialised nations formed in 1975. It meets annually to discuss issues such as global economic governance, international security, and energy policy.
• Member countries:Canada, France, Germany, Italy, Japan, the United Kingdom and the United State. Apart from the 7 member countries, the European Union (EU) has also participated fully in the G7 since 1981 as a “non-enumerated” member.
• Presidency: The host of the G7 summit, also known as the presidency, rotates annually among member countries. It was formerly referred to as the G-8 until Russia was suspended from the group in 2014 after annexing Crimea.
• Some of the key principles of the G7 include:
  • Democracy: G7 countries promote democratic values and institutions, including free and fair elections, the rule of law, and the protection of individual rights and freedoms.
  • Human rights: They support the protection and promotion of human rights around the world, including civil, political, economic, social, and cultural rights.
  • Free and fair trade: They are committed to promoting international trade and investment based on open, transparent, and non-discriminatory rules.
  • Environmental protection: They are committed to reducing greenhouse gas emissions, protecting biodiversity, and addressing other environmental challenges.
  • Peace and security: They are committed to promoting international peace and security, and to preventing and resolving conflicts through diplomatic means.