World leaders will be converging on Brisbane this weekend to attend the annual G20 Leaders’ Summit.
But what exactly is the G20? Who will be there and what will be discussed? Will the city be closed off over the weekend?
Here’s what you need to know about the event.
What is the G20?
The G20, also known as the Group of 20, is made up of 19 of the world’s major and emerging economies, as well as the European Union, a contingent that accounts for 85 per cent of the world’s economy and more than 75 per cent of world trade.
Member countries including Australia, Canada, China, France, Germany, Russia, the United Kingdom and the United States meet annually to discuss economic cooperation.
Australia has assumed the rotating presidency in 2014 and is chairing this year’s summit.
Image via Getty
Who is coming to the summit?
The meeting will be attended by representatives of the G20 members, as well as those of guest countries invited by the G20 president.
About 5,300 delegates will hold meetings inside the summit headquarters, with 2,300 media representatives in Brisbane to cover the event.
Spain is a permanent invitee to the summit each year, along with the Association of South-East Asian Nations (ASEAN) chair, the African Union chair and the chair of the New Partnership for Africa’s Development (NEPAD).
Mauritiana has been invited as the 2014 African Union chair and Myanmar has been invited as this year’s ASEAN chair.
Senegal will be representing NEPAD at the summit.
Australia’s other invitees for the upcoming summit are New Zealand and Singapore.
Russian president Vladimir Putin will attend the summit despite months of criticism from the Federal Government over Russia’s response to the MH17 disaster.
What will they be talking about?
Mr Abbott said Australia had set three themes for the meeting:
1. Strengthening the private sector to promote growth;
2. Making the world economy more resilient to future shocks;
3. Shoring up global institutions.
Australia has sought to make economic growth the G20’s top priority since it assuming presidency, amid concerns the annual meeting had lost its way after being upgraded to a leaders’ summit in 2008 to tackle the fallout from the global financial crisis.
Mr Abbott said the summit “won’t be a talkfest”.
“We have a very clear goal – to boost global economic growth by 2 per cent above what is currently expected over the next five years,” Mr Abbott said in a pre-recorded video message.
“All the countries of the G20, including Australia, will be detailing their growth strategies at this summit.
“It’s an economic summit, so it will focus on what can be done to create jobs, identify tax cheats and improve the world economy.”