Explorer

G20 Country Canada: Key Player In Global Economic Arena

Canada played a leading role in the creation of the G20 and was instrumental in setting up the first meeting of G20 leaders in 2008.

Prime Minister: Justin Trudeau


    Justin Trudeau (born December 25, 1971) is Canada’s 23rd Prime Minister. Before entering politics, Justin served as the Chair of Katimavik, on the board of the Canadian Avalanche Foundation, and had been an advocate for climate action.

Canada, known for its vibrant multicultural society and breathtaking landscapes, also holds a prominent position on the world stage as a member of the Group of Twenty (G20). The country has been a full member of the G20 since the bloc was formed in 1999 in the wake of the 1997 financial crisis. Canada played a leading role in the creation of the G20 and was instrumental in setting up the first meeting of G20 leaders in 2008.

As the second-largest country in the world in terms of area, Canada brings to the G20 table its unique blend of natural resources, economic stability, and inclusive policies.  

It hosted the fourth G20 summit, held in Toronto on June 26–27, 2010 and hosted under the theme ‘Recovery and New Beginnings'. The summit focused on the ‘Framework for Strong, Sustainable, and Balanced Growth’ and the completion of Phase-I work comprising MAP (or ‘peer review’) by groupings of countries.

At the time of the G20 Toronto Summit, most of the countries were entering recovery mode from the global economic recession. The Summit Declaration stated that serious challenges remained in the form of high unemployment rates in various economies and the concurrent existence of the impact of the financial crisis. In its post-summit document, the International Monetary Fund indicated that a speedy cut in deficits might substantially slow growth.

Apart from the G20 members, five invitee countries included Ethiopia, Malawi, Spain, the Netherlands, and Vietnam. and heads of seven international organisations—Financial Stability Board, International Labour Organization, International Monetary Fund, Organisation for Economic Co-operation and Development, United Nations, World Bank, and World Trade Organization.

Canada has always been a trading nation, and commerce remains the engine of economic growth. Today, Canada is one of the ten largest economies in the world and is part of the G8 comprising leading industrialised countries including the United States, Germany, the United Kingdom, Italy, France, Japan, and Russia.

Justin Trudeau attended the 2022 G20 summit, held in Indonesia, and will be attending the 2023 India summit too. Canada and the other 19 G20 members represent 65 per cent of the world's population, 75 per cent of global trade, and 85 per cent of the world GDP.

The other members of the G20 are Argentina, Australia, Brazil, China, France, Germany, India, Indonesia, Italy, Japan, Mexico, Russia, Saudi Arabia, South Africa, South Korea, Turkey, the UK, and the US, as well as the European Union.

 

View More
Advertisement
Advertisement
25°C
New Delhi
Rain: 100mm
Humidity: 97%
Wind: WNW 47km/h
See Today's Weather
powered by
Accu Weather
Advertisement

Top Headlines

'Not In Good Taste', 'No Significance In Maharashtra': NDA Leaders Divided Over 'Batenge To Katenge' Slogan
'Not In Good Taste', 'No Significance In Maharashtra': NDA Leaders Divided Over 'Batenge To Katenge' Slogan
GRAP 3 In Delhi From Tomorrow As AQI Remains In 'Severe' Category. Details Here
GRAP 3 In Delhi From Tomorrow As AQI Remains In 'Severe' Category. Details Here
AAP's Mahesh Kumar Khichi Elected As Delhi's New Mayor Amid Cross-Voting
AAP's Mahesh Kumar Khichi Elected As Delhi's New Mayor Amid Cross-Voting
'Cong Desperate For Power Like Fish Out Of Water': Modi At Mumbai Rally, Takes 'Remote Control' Jibe At Uddhav
'Cong Desperate For Power Like Fish Out Of Water': Modi At Mumbai Rally, Takes 'Remote Control' Jibe At Uddhav
Advertisement
ABP Premium

Videos

Nirmala Sitharaman Announces Game-Changing Collateral-Free Loan Scheme for MSMEsSIP Emerges as a Safe Investment Amidst Market Fluctuations | Paisa LiveTop Banks Offering 8.75% Interest for Senior Citizens: Here’s What You Need to Know!RBI Set to Make a Big Decision on Your EMI: What You Need to Know!

Photo Gallery

Embed widget