The Group of Seven comprises Canada, France, Germany, Italy, Japan, the United Kingdom and the United States, and receives representation from the EU as well. It was originally formed in 1973 as a forum for the world’s major industrialized nations to discuss economic issues. From an initial informal gathering of financial officials from five nations, the group has grown to seven core members and holds annual summits, with the 47th host being Japan.
At this year’s meeting, the G7 leaders will exchange views on the world economy, regional affairs, various global issues and macroeconomic policies. The G7 finance ministers and central bank governors will meet at the city of Niigata’s Toki Messe convention center, situated at the mouth of the Shinano River, from May 11 to 13.
In addition to the G7 ministers and bank governors, the head of the European Commission, the president of the European Central Bank, the managing director of the International Monetary Fund and the president of the World Bank will be in attendance. It will be the first time for Niigata to host this meeting and will doubtless bring attention to the cultural and natural heritage of the area. The event will be covered extensively by domestic and international media.