Heads of states of the G-20 Summit to meet in September 2013

At the beginning of the month, heads of states of the G-20 Summit will meet in Russia. The idea of meeting world financial powers to discuss issues was first introduced by the then Canadian Prime Minister, Paul Martin, and the first financial ministers meeting took place in September of that year. The G-20 consists of 19 countries and the European Union. All 19 member countries are divided into five groups and they decide who will chair the Summit each time they meet. The first G-20 Summit, heads of states, took place In November 2008 in Washington D.C. in the United States during the Presidency of George W. Bush. Contrary to public belief, meetings can take place between different levels of each country including heads of governments, finance ministers, central bank governors, and ministers of major economies of the G-20 partners. Heads of states known as the Summit, started to meet as a group in 2008 while Finance Ministers gatherings dates back to 1999 when the group member ministers met in Berlin, Germany. The G-20 accounts for more than 80 percent of the gross world product, more than 80 percent of world trade and more than two-thirds of world population.