What you need to know about the G20 summit

Next Friday, July 7 , the G20 Summit in Hamburg, Germany , will bring together the leaders of the 20 largest industrialized and emerging economies in the world.

The group includes the European Union, Saudi Arabia, Argentina, Australia, Brazil, Canada, China, South Korea, the United States, India, Indonesia, Japan, Mexico, United Kingdom, Russia, South Africa and Turkey. Germany, France, and Italy, which are members of the European Union, participate independently.

This year, Spain, Norway, Holland, Singapore, Guinea (as the representative of the African Union), Senegal (part of the New Partnership for Africa's Development) and Vietnam (from the Economic Cooperation Forum Pacific Asia) will attend as guest countries.

In addition, international organizations such as the United Nations, the International Monetary Fund, the World Bank, the Financial Stability Board, the Organization for Economic Cooperation and Development, the International Labour Organization and the World Health Organization will participate.

The theme of the meeting was chosen by Germany, the host country, and will be " Forging an Interconnected World ."

The summit will last two days during which the participants will hold bilateral meetings .

The decisions made at the meeting are not binding, so the agreements are not mandatory but rather considered a guide on economic and/or political issues.

The G20 was created in 2008 to boost economic cooperation.

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