G7 Summit

The US President Trump had cancelled the in-person G7 Summit that was scheduled to be held between 10th and 12th of June. This is to be replaced with video conferencing.

About G7

G7 or the Group of Seven is an international economic grouping of 7 advanced countries. The group was previously known by various names: ‘the Library Group’, ‘the Group of Five’ etc. It acquired its present composition and name in 1976.

Members

There are 7 members in the G7 grouping: USA, Japan, UK, France, Germany, Italy and Canada. Canada was the latest to enter the group. These countries together represent 58% of the global net worth. The EU is an invitee to the group.

Camp David

The 2020 G7 Summit was to be held at the Camp David in USA. The US President had announced that the in-person meeting would be cancelled. The leaders are instead to meet via video teleconference. Camp David is a country retreat of the US President in Maryland. It is officially called the Naval Support Facility Thurmont.

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