(VOVWORLD) - The G20 Summit officially opened on Tuesday in Bali, Indonesia, bringing together the leaders of all the major developed and emerging economies. It is hoped that the Summit will generate momentum for a sustainable global recovery from the COVID-19 pandemic, the Russia-Ukraine conflict, tensions on the Korean peninsula, and a growing global food, energy, and financial crisis.
Themed “Recover Together, Recover Stronger”, the 2-day G20 Summit will discuss recent events which have had massive repercussions. The public and the media will be paying close attention to the many bilateral and multilateral meetings on the sidelines of the Summit.
Notable agenda
The Indonesian President said the Summit will focus on three interconnected pillars: food and energy security, the global health architecture, and digital transformation.
The agenda will cover matters receiving the close attention of many countries outside the G20. Food and energy security are concerns of almost every government now that the Russia-Ukraine conflict has interrupted global food supply chains and pushed energy and food prices to multi-decade highs around the world.
The global health architecture has been a burning issue at multilateral forums since the COVID-19 pandemic broke out, followed by other serious health threats such as monkey pox.
And digital transformation is an irreversible trend which is having a deep impact on all societies.
All eyes will be on bilateral talks taking place on the sidelines of the summit to seek solutions to these problems.
On Monday US President Joe Biden and Chinese Premier Xin Jinping met face-to-face for the first time since COVID-19 broke out 3 years ago. In the context of intense US-China competition and profound disagreement on many issues, the meeting will be a test of the efficacy of dialogue and cooperation that could serve as an example to other countries.
Expectations and challenges
The G20 economies account for 60% of the world's population, 75% of its trade, and 80% of global GDP. This explains why the G20 is the right place to strengthen solidarity between countries, promote peace, and build a more prosperous world.
To this year's Summit, host Indonesia has invited leaders and representatives of international organizations like the Association of Southeast Asian Nations (ASEAN) and strategic alliances from Africa, Latin America, the Pacific, and the Caribbean.
The wide range of participants reflects the inclusiveness that the host has been promoting. Indonesia wants the Summit to achieve substantive outcomes that will deliver tangible benefits to developing and less developed countries and regions, small islands, and vulnerable groups.
That will be a difficult task in the context of the Russia-Ukraine conflict and tensions on the Korean peninsula and elsewhere. The G20, a multilateral organization with wide influence, needs to assert its role in order to make the world safer and more prosperous.
G20 members include Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, Mexico, the Republic of Korea, Russia, Saudi Arabia, South Africa, Turkey, the United Kingdom, the United States and the European Union.