Members' Research Service By / December 15, 2022

Outcome of the 2022 G20 summit in Bali, Indonesia

The G20 countries, together representing 85 % of global gross domestic product (GDP), 75 % of international trade and 66% of the world’s population, held their annual summit of leaders in Bali, Indonesia, in November 2022.

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Written by Marc Jütten.

On 15 and 16 November 2022, the Group of Twenty (G20) held the 17th annual summit of its leaders in Bali, Indonesia. This was the first G20 summit since Russia began its war of aggression against Ukraine and the first fully fledged physical leaders’ meeting since the COVID-19 pandemic began.

While Russian President Vladimir Putin did not attend the summit and was represented by Foreign Minister Sergey Lavrov, Ukrainian President Volodymyr Zelenskyy participated by video-conference as a guest.

Condemnation of Russia’s invasion of Ukraine, expressed in the Leaders’ Declaration, dominated the summit, taking place at a time of geopolitical tension, economic slowdown and rising food and energy prices.

The final communiqué also contains a series of economic measures and political commitments relating to the global health architecture, the sustainable energy transition, and the digital transformation – the three priorities of the Indonesian G20 presidency.

On the margins of the G20 summit, a series of meetings took place, notably that between United States (US) President Joe Biden and Chinese President Xi Jinping, and the meeting of the leaders of the G7/NATO member countries.

Another take-away of this year’s summit was that the role of the emerging countries from the Global South is growing. They were decisive in overcoming differences between the major geopolitical players. The Bali Summit was the first in a row of Global South G20 presidencies. The next G20 presidencies will be held by members of the BRICS Group: India in 2023, Brazil in 2024, and then South Africa in 2025. The EU has ‘strategic partnerships’ with all three of them.

This briefing draws on a previous one, published ahead of the 2022 G20 summit, by Angelos Delivorias.

Read the complete briefing on ‘Outcome of the 2022 G20 summit in Bali, Indonesia‘ in the Think Tank pages of the European Parliament.

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