Satow's Diplomatic Practice (6th Edition)
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The G8 The G8
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The G20 (The Group of 20 Finance Ministers and Central Bank Governors) The G20 (The Group of 20 Finance Ministers and Central Bank Governors)
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The Organisation for Economic Cooperation and Development or OECD (previously the Organisation for European Economic Cooperation or OEEC) The Organisation for Economic Cooperation and Development or OECD (previously the Organisation for European Economic Cooperation or OEEC)
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Origin and purpose Origin and purpose
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Aims Aims
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General obligations General obligations
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The International Energy Agency (IEA) The International Energy Agency (IEA)
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WTO previously GATT WTO previously GATT
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The IMF and the World Bank The IMF and the World Bank
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25 The G8, G20, WTO, OECD, IMF, and IBRD
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Published:24 September 2009
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Extract
The G8
25.1 The six nations originally involved became known as the G6, and later the G7 and G8 after the respective entries of Canada (1976) and Russia (1998). Though the G8 was originally conceived as a forum for discussing economic and trade matters, politics intruded, despite French resistance, as early as the late 1970s. The G8 relies for its influence on the economic strength of its members whose agreements carry no legal weight. The workings of the G8 are far removed from the ‘fireside chats’ of the early 1970s. Security has become a major concern after violent protests in recent years and the leaders now tend to meet in remote or isolated locations. There is still an attempt to keep some of the original informality with advisers excluded from the room, ties and jackets discarded, and an effort to keep the agenda flexible.
25.2 The European Union is represented at the G8 by the president of the European Commission and by the leader of the country that holds the EU presidency if that country is not otherwise a member of the G8 but the EU as such does not take part in G8 political discussions. Critics of the G8 have accused the body of representing the interests of an elite group of industrialized nations, to the detriment of the needs of the wider world. In an effort to reach out to others, important countries with fast-growing economies, notably China, Brazil, India, Mexico, and South Africa, and selected African leaders have been invited to attend special ‘outreach’ sessions during summits. Sessions with +5 (or G5) leaders have taken place at all Summits since the Evian Summit in 2003, with the exception of the Sea Island Summit in 2004. In recent years, notably at the Gleneagles Summit of 2005, the G8 has launched initiatives on debt relief and disease, including malaria and HIV/Aids. G8 ministerial meetings bring together ministers responsible for issues as wide-ranging as health, law enforcement, labour, economic and social development, energy, environment, foreign affairs, justice and interior, terrorism, and trade.
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