The G7 is one of the highest profile summits in the international calendar, bringing some of the world’s most powerful leaders together.

As the presidency holder, the UK will direct the agenda for the G7 in 2021, choosing to focus on issues that matter and will help the UK and the world build back better from coronavirus.

The G7 has an opportunity to lead the global recovery from coronavirus: protecting peoples’ health, creating quality jobs and tackling climate change. The G7, originally G8, was set up in 1975 as an informal forum bringing together the leaders of the world’s leading industrial nations.

The annual G7 summits have over the years developed into a platform for determining the course of multilateral discourse and shaping political responses to global challenges. It complements the role of the G20, which is widely regarded as the framework for ongoing global economic coordination.

Read next: The role Falmouth will have to play when Cornwall hosts the G7 Summit

Read next: Cornwall to host international G7 Summit (and it could make £50m for businesses)

The G7 is a group of the largest advanced economies in the world and comprises Canada, France, Germany, Italy, Japan, the United Kingdom and the United States. Russia was previously a member of the then G8 but was ejected over the annexation of Crimea.

The Prime Minister Boris Johnson has also invited Australia, India and South Korea to attend as guests, as he seeks to promote a green recovery from the crisis.

It is capable of setting the global agenda because decisions taken by these major economic powers have a real impact. The political direction set by these leaders on a policy issue will have a “ripple” effect across many other international organisations and institutions.

The 2019 conference was a very tense event with President Trump arguing for the readmission of Russia and the break-out of a trade war which saw the United States imposing tariffs on goods coming into the United States from Europe.

Last year's G7 event was cancelled due to the Coronavirus epidemic. The event will be one of Joe Biden's first big international conferences on the world stage.

The G7 has a stronger focus on politics in industrialised countries, including discussions on health, energy, environment and terrorism.

 Cherilyn MacKrory has welcomed the news
Cherilyn MacKrory has welcomed the news

Welcoming the event coming to Cornwall Truro and Falmouth’s Member of Parliament Cherilyn Mackrory said: “Having the Presidency of the G7 for 2021 is a unique opportunity for the UK to lead the international recovery effort from the COVID-19 crisis, and it is excellent news to see the Prime Minister announce that Cornwall will be hosting this pivotal event on the world stage.”

“I am pleased to see the Prime Minister putting Cornwall at the heart of the Government’s levelling up agenda by choosing our county to host this global event.”

“From our verdant vistas and rugged coastlines, to our world class hospitality offer, unique culture and heritage, along with our cutting edge creative sector, I look forward to seeing Cornwall shine on the world stage at this important time in our history.”

“This will be a real boost to Cornwall for our visibility and for our economy as we look to head out of the pandemic towards a brighter future.”

The Conservative Group on Cornwall Council has also welcomed the Prime Minister’s announcement.

The Conservative Group on Cornwall Council has welcomed the announcement by Prime Minister Boris Johnson that Cornwall will be hosting the prestigious G7 Summit.

Commenting, Conservative Group Leader and Cornwall Councillor for Lelant and Carbis Bay Linda Taylor said: “What an incredible announcement from our Prime Minister and I am delighted to see that he has recognised what Cornwall has to offer by confirming the G7 Summit will be held in our Duchy.”

“This will be an incredible opportunity to show the world all the wonderful things that Cornwall has to offer as we look to come out of his awful pandemic that has blighted our lives over the past year.”

“Putting Cornwall at the forefront of the global recovery effort and at the centre of this Conservative Government’s levelling up agenda by showcasing us on the global stage.”

“We look forward to working locally and at County Hall to ensure we do our bit in making this a success.”