The ins and outs of the G20 Summit

THE G20 - THE WHO, THE WHAT AND THE WHY:

WHAT IS THE G20?

* The Group of Twenty (G20) is a gathering of the world's largest advanced and emerging economies.

* It started in 1999 after the Asian financial crisis but it wasn't until 2008 and that the first Leaders' Summit was held.

* The summit is an annual affair where the G20 leaders come together to discuss ways of bolstering the global economy and creating jobs and growth.

* It's comprised of 19 member nations plus the European Union, along with extra guests each year.

SO WHO'S INVITED?

* The leaders of the G20 members: Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, South Korea, Mexico, Russia, Saudi Arabia, South Africa, Turkey, the United Kingdom, the United States and the European Union.

* Spain is a permanent invitee and comes every year.

* Apart from Spain, hosts are also allowed to invite their own guests. As president of the G20 this year Australia is inviting Mauritania, Myanmar, New Zealand, Senegal and Singapore.

ANYONE ELSE INVOLVED?

* Several international organisations play a supporting role throughout the G20 including the World Bank, the International Monetary Fund, the OECD, the United Nations and the World Trade Organisation.

* There are multiple events held in conjunction with the G20 during the year. Australian business is represented by the B20, civil society by the C20, labour by the L20, think tanks by the T20 and youth by the Y20.

WHO'S IN CHARGE?

* The G20 doesn't have an overarching leadership. It runs on a "troika" system where the previous, current and next host split the duties. In this case that's Russia, Australia and Turkey.

WHY IS IT IMPORTANT?

* The countries of the G20 generate 75 per cent of all world trade and 85 per cent of the world's Gross Domestic Product. Prime Minister Tony Abbott has dubbed it "the world's most important economic forum".

FUNNY FACTS:

* The representatives from each G20 country helping prepare for the Leaders' Summit are called "sherpas".

* The term proved so popular that less senior G20 officials have adopted spin-off titles such as "sous-sherpa" and "yak".

(SOURCE: www.g20.org; The Department of Foreign Affairs and Trade; Statement from Prime Minister Tony Abbott; Commonwealth Parliamentary Library)