The G7 Meet Face-to-Face for the 47th Summit
The G7, short for Group of Seven, is a group of government leaders from seven of the world’s most advanced economies, including the United States, United Kingdom, Canada, France, Germany, Italy, and Japan. Every year, member states would come together to have a summit to discuss economic issues and global policies.
The G7’s 47th summit is scheduled to take place on June 11 to 13, 2021 in Cornwall, with the United Kingdom serving as this year’s host. Aside from the key members of the group, representatives from the European Union (EU) and leaders from Australia, South Korea, and South Africa are expected to be present. Indian Prime Minister Narendra Modi will also be in attendance, albeit virtually, due to the current severity of the COVID-19 situation in India.
With last year’s summit being cancelled due to the pandemic, this forum will be the first time the leaders are gathering in almost two years. It also marks the first summit for the leaders of the US, Japan, and Italy. Thus, the three-day meeting is expected to include discussions about COVID-19 vaccines and recovering from the pandemic's effects and other global issues like climate change and taxes.
Issues in the 47th G7 Summit Agenda
Led by UK Prime Minister Boris Johnson, the 2021 G7 Summit will be focused on helping the world bounce back from COVID-19 and pushing for a greener future. As per the UK’s presidency, the following discussions were highlighted to be the priorities for this year’s summit:
Equalizing distribution of COVID-19 vaccines and medical supplies
Scaling up vaccine manufacturing to meet demand
Promoting resilience against future pandemics
Addressing climate change and biodiversity preservation
Reaffirming globally shared values
Championing fair and free trade
Undoubtedly, global health will be a core focus for the 2021 summit due to all that has happened since the onset of COVID-19 last year. While vaccines are starting to roll out in different parts of the world, there is still a noticeable divide between high-income and low-income countries, thus necessitating policies to make accessibility more equal.
Aside from these key issues, the summit will also be talking about matters like the proposed minimum corporate tax rate, improving the governance of a digital economy, and opening markets to enhance world trade. Likewise, the G7 will continue to strive for its commitment to achieving gender equality and promoting women’s rights.
Promoting World Democracies: 2021 Summit and Post-Pandemic Context
One key difference with the 2021 G7 summit, compared to previous ones, would be the emphasis on shared values and the promotion of liberal democracy. Traditionally, G7 has been considered a West-dominant group because most of its member states are from the West. However, this year’s summit is seen to be an opportunity to bring together the world’s democracies to promote their shared values.
The inclusion of Australia, India, South Africa, and South Korea work towards reinforcing the representation of global democracy. Beyond the 2021 summit, the G7 looks to strengthen its role once again as the world navigates the post-pandemic context. COVID-19 has emphasized the key role of the summit in helping the world get through the crisis. In the past year and so, the G7 organization has provided support totalling more than $6 trillion to member economies.
With the new US administration also committed to advancing democracies and multilateralism, the G7 will serve as a powerful platform to promote such values. In fact, Boris Johnson has expressed his interest in turning the group into D10, short for ten democracies. It will include the seven current members, as well as Australia, India, and South Korea.