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Canada hosts G20, G8 summits

25 June 2010 08:59 (UTC +04:00)

Baku - APA-Economics. Group of Eight and Group of Twenty heads of government debate touchy issues such as global economic governance, with the G20 summit emerging as the dominant voice.

The global economic crisis remains the top issue for both groups. G8 leaders meet Jun 25-26 in Huntsville, rural Ontario. The G20 summit follows in Toronto, Jun 26-27. The Liberal opposition is taking issue with the Can. $1.1 billion cost of the summit and a fake lake. The government argues the main cost is for security.

The G8 brings together Britain, Canada, France, Germany, Italy, Japan and the United States with Russia. The G20 includes major emerging markets. It is made up of: Argentina, Australia, Brazil, Britain, Canada, China, France, Germany, India, Indonesia, Italy, Japan, Mexico, Russia, Saudi Arabia, South Africa, South Korea, Turkey, the United States and the European Union presidency.

The G20 represents some 90 per cent of the world’s wealth, 80 per cent of world trade and two-thirds of the world’s population, according to a statement after G20 talks in St. Andrews, Scotland, in 2009.