Q. With reference to Group of Seven (G7) countries consider the following statements:
1.It is a formal grouping of seven developing economies of the world.
2.The European Union is not part of the rotating annual presidency of the G7.
3.The G7 is a forum designed for frank and open discussion between leaders, ministers and policy-makers.
Which of the statements given above are correct?
Statement 1 is incorrect. The G7 is an informal grouping of seven of the world’s advanced economies.
Statement 2 and 3 are correct. The European Union (EU) is a non-enumerated member of the G7 and is not a part of the rotating annual presidency. The G7 is a forum designed for frank and open discussion between leaders, ministers and policy-makers.