The head of 20 states assembles in Rome for the G20 Summit. This is the first in-person meeting after the global pandemic outbreak.
For the G20 Summit of 2021, several agendas like climate change, COVID-19 economic recovery, and minimum corporate rate globally are on the list.
Italian PM Mario Draghi, being the host leader, welcomed the leaders of the participating countries. The opening session on Saturday focused on global health and economic recovery. And a meeting on the side-line was held in attendance of U.S President Joe Biden, German Chancellor Angela Merkel, French President Emmanuel Macron, and UK Prime Minister Boris Jhonson. Why? To discuss Iran’s nuclear program.
The leader of the host country, Mario Draghi, opened the forum with a sharp call of redoubled efforts to provide vaccines to the least developed economies in the world.
Furthermore, around 70% of the population in poor countries got vaccinated. But, only 3% of the population in poor countries have got their shots. These statistics are morally not acceptable.
Furthermore, Draghi urged the nations towards a new commitment to multilateral cooperation. But why? According to Draghi, this is the best possible approach to most of the concerns of the present times.
It will not be wrong to say that Italy is expecting key commitments from G20 member countries. These countries represent 80% of the world economy.
Moreover, G20 will be a celebration of the global minimum corporate tax. According to the agreement, the G20 leaders are expected to conform to a 15% global minimum corporate tax by 2023. Thus preventing Multinational companies from stashing profits.
The White House officials praised the move of the G20 Summit on minimum corporate tax. And, they have also called it a game-changer.
These are the highlights of the opening session of the summit.
After the G20 summit, most of the leaders are to attend COP 26, an event of significance from the perspective of climate.
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