What is the G8?
The G8 (previously G7) is an annual meeting of the top political leaders of the world\'s major industrialised countries. The meeting was originally envisaged as a forum to discuss world economic issues. It was first convened in 1975 in Rambouillet, France and attended by Germany, France, Italy, the United Kingdom, Japan and the United States. Canada joined the Group at the Puerto Rico Summit Meeting the next year.
In 1994, Russia attended a post-Summit meeting with the G7, referred to as the P-8 (Political 8). The 1997 Denver Summit marked Russia\'s full participation in all but financial and certain economic discussions. Russia was admitted to all discussions in Birmingham the next year giving birth to the G8.
The G8\'s agenda has broadened substantially since its inception, shifting from predominantly macroeconomic and trade issues to include a host of security and societal issues such as employment, the environment, crime and drugs, human rights and arms control.
Since the mid-eighties, meetings of Finance Ministers and Foreign Ministers have been held separately from the meeting of Heads of State and Government. Finance Ministers meet two or three times a year. Environment Ministers have met annually since 1994 and Employment Ministers since 1996. Education Ministers met for the first time in 2000.
The European Union\'s role
Because of its role in the world\'s economy and trade the EU has participated in G7 meetings since 1977. The Union is represented by the President of the European Commission and the President of the Council. Then-Commission President Roy Jenkins first attended the G7\'s third Summit held in London.
The Paris Summit in 1989 was a landmark year for Europe\'s participation in the G7, when the Commission assumed responsibility for the PHARE programme (economic assistance for the former Communist countries of Eastern Europe) at the request of G7 Heads of State and Government.
The establishment of the Single Market, the completion of Economic and Monetary Union and the development of EU Common and Foreign Security Policy greatly increased the relevance of the European Union in the G8.
In 2005, three main pledges were made at the G8 meeting in Gleneagles, Scotland that related to debt relief, aid and trade. G8 leaders agreed to: full debt cancellation for 18 African countries; a $50bn (£28.8bn) boost to aid to developing countries; on trade there was a commitment to work towards cutting subsidies and tariffs; African leaders committed to democracy and good governance as part of the deal.
The EU made important commitments ahead of the G8 Summit in Gleneagles. This enabled Europe to play a leading role in aid and trade by providing 80% of the $50 billion to Africa committed at Gleneagles, by pushing for and getting a development package at the Hong Kong Ministerial in December, including a €2 billion pledge of aid for trade.
On aid financing, Europe is delivering. It has not just met its commitment to reach aid worth 0.39% of GNI by 2006; as the Commission has reported, it will probably pass this mark and deliver aid worth 0.42% of GNI during 2006.
On trade, as the Commission has recently reported, the recent revision of the Commission’s preferential trade scheme, the Generalised System of Preferences, has extended the scheme to 300 additional products - mostly in the agriculture and fishery sectors. A new GSP Plus arrangement has been established targeted at especially vulnerable countries that have ratified and effectively implemented key international conventions related to sustainable development.
The Presidency of the Council of the European Union is only visible at G8 summits when the Presidency is held by a non-member of the G8. Commission President Barroso and Finnish Prime Minister Vanhanen were in St. Petersburg on behalf of the EU in July 2006.
Germany will hold the G8 Presidency in 2007
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