Borgo Egnazia: Italian Prime Minister Giorgia Meloni on Thursday welcomed leaders of the Group of Seven nations to Borgo Egnazia in the country's Puglia region. The G7 comprises the United States, Japan, Canada, Germany, France, Italy and Britain. The European Union participates in all discussions and is represented by the presidents of both the European Council and the European Commission.
"The message we want to convey is a G7 that, under the Italian presidency, wants to strengthen its dialogue with the nations of the global South. We have done this because this land is historically a bridge between West and East. It is, let's say, a land of dialogue at the centre of the Mediterranean Sea, of that middle sea that connects the two great maritime spaces of the globe, that is, the Atlantic on one side, the Indo-Pacific on the other," said Meloni.
VIDEO: Meloni greeting world leaders during G7 Summit
The host country traditionally invites outside guests to join some of the sessions. Italy has thrown open the doors and will this year welcome Pope Francis, the King of Jordan as well as the leaders of Ukraine, India, Brazil, Argentina, Turkey, the United Arab Emirates, Kenya, Algeria, Tunisia and Mauritania, which holds the presidency of the African Union. On the sidelines of the crucial meeting, Prime Minister Narendra Modi is scheduled to hold a bilateral meeting with Meloni.
Where is the summit being held this year?
The meeting is being held in Borgo Egnazia in the southern region of Puglia - a luxury hotel with a Michelin-starred restaurant. On the first evening, the leaders will attend a dinner in their honour in the nearby city of Brindisi.
Who will attend the G7 Summit 2024?
The G7 comprises the United States, Japan, Canada, Germany, France, Italy and Britain. The European Union participates in all discussions and is represented by the presidents of both the European Council and the European Commission. The host country traditionally invites outside guests to join some of the sessions. Italy has thrown open the doors and will this year welcome Pope Francis, the King of Jordan as well as the leaders of Ukraine, India, Brazil, Argentina, Turkey, the United Arab Emirates, Kenya, Algeria, Tunisia and Mauritania, which holds the presidency of the African Union.
In addition, the secretary-general of the United Nations and heads of the World Bank, the IMF, the African Development Bank and the Organisation for Economic Co-operation and Development (OECD) will be present.
What is on the agenda of G7 Summit 2024
The summit kicked off at 11:15 a.m. (0915 GMT) on Thursday with a discussion about Africa, climate change and development. The conversation then switches to the Middle East before two sessions dedicated to Ukraine - the first including Ukrainian President Volodymyr Zelenskyy.
Day two has sessions on immigration, the Indo-Pacific and economic security before the arrival in the afternoon of the outreach partners for talks on the Mediterranean, energy and Africa. Pope Francis will lead talks on Artificial Intelligence.
Much focus will be on whether the leaders can finally reach agreement on how to leverage profits generated by Russian assets frozen in the West and use them for Ukraine. U.S. President Joe Biden will sign a new security agreement with Ukraine on the sidelines of the gathering.
China will also be discussed at length. The leaders are likely to issue a statement expressing concern on Chinese industrial overcapacity and will also look at the possibility of imposing additional measures to level the field with heavily subsidised Chinese companies. Again, the United States feels much more strongly about this than some EU nations. US officials also expect the G7 to send a tough warning to smaller Chinese banks to stop assisting Russia in evading Western sanctions.
The G7 leaders are likely to express their resolve in addressing the heavy debt burden faced by many emerging markets and developing countries, but it is not clear what this commitment will mean in real terms. Italy is still pushing for an accord on a global minimum tax on multinationals, even if it said last month that a deal would not be finalised by June as previously planned.
India's agenda at G7 Summit?
India on Wednesday reiterated that the best option to resolve the Ukraine conflict is dialogue and diplomacy as Prime Minister Narendra Modi travels to Italy to attend the annual summit of G7 grouping that is set to focus on dealing with global geopolitical turmoil.
Modi, accompanied by a high-level delegation, will travel to Italy on Thursday to attend an outreach session at the summit on June 14. It will be his first trip abroad after assuming charge as prime minister for the third term. "We have always maintained that dialogue and diplomacy is the best option," Foreign Secretary Vinay Kwatra said at a media briefing when asked what would be India’s approach to resolving the Ukraine conflict.
(With inputs from agencies)
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