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Concept
G8
Summary
The Group of Eight (G8) was an inter-governmental political forum from 1997 until 2014. It had formed from incorporating Russia into the Group of Seven, or G7, and returned to its previous name after Russia was expelled in 2014.
The forum originated with a 1975 summit hosted by France that brought together representatives of six governments: France, Germany, Italy, Japan, the United Kingdom, and the United States, thus leading to the name Group of Six or G6. The summit came to be known as the Group of Seven in 1976 with the addition of Canada. Russia was added to the political forum from 1997, which the following year became known as the G8. In March 2014 Russia was suspended indefinitely following the annexation of Crimea, whereupon the political forum name reverted to G7. In January 2017, Russia announced its permanent withdrawal from the G8. However, several representatives of G7 countries stated that they would be interested in Russia's return to the group. The European Union (or predecessor institutions) was represented at the G8 since the 1980s as a "nonenumerated" participant, but originally could not host or chair summits. The 40th summit was the first time the European Union was able to host and chair a summit. Collectively, in 2012 the G8 nations comprised 50.1 percent of 2012 global nominal GDP and 40.9 percent of global GDP (PPP). The G8 countries were not strictly the largest in the world nor the highest-income per capita, but they do represent the largest high-income countries.
"G7" can refer to the member states in aggregate or to the annual summit meeting of the G7 heads of government. G7 ministers also meet throughout the year, such as the G7 finance ministers (who meet four times a year), G7 foreign ministers, or G7 environment ministers.
Each calendar year, the responsibility of hosting the G8 was rotated through the member states in the following order: France, United States, United Kingdom, Russia (suspended), Germany, Japan, Italy, and Canada.
Official source
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