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Group of 11 (G-11) is an informal association of eleven major industrial countries aimed at accelerating economic growth and development in member countries. The first members of the Group of 11 (G-11) were established in 1989 by members of the Organization for Economic Cooperation and Development (OECD). The G-11 currently includes Canada, France, Germany, Italy, Japan, the United Kingdom, the United States, Australia, Austria, Finland, and the Netherlands.
The primary objective of the G-11 is to promote global economic growth and development, by establishing common approaches to international economic issues, stimulating international investment and trade, and providing a forum for the exchange of information, views, and opinions on economic and financial policies. By harmonizing economic policies and working together on a multilateral basis, the G-11 nations seek to achieve a more efficient and effective use of financial and economic resources.
Since its formation, the Group of 11 members have been actively engaged in a number of activities. These activities have included: holding meetings on a regular basis to discuss and exchange information on their respective economic and financial conditions, preparing for the G-7 Summit process and periodically issuing joint communiqués and statements; conducting a post-financial crisis review of international financial architecture; developing a framework for coordinated policy responses to fight global climate change; and engaging in cooperative attempts to promote shared development goals and strengthen the multilateral trading system.
In addition to its official meetings, the G-11 also delivers wide-ranging public statements on global economic and financial issues. The statements typically take the form of "institutional declarations" that are prepared in advance and thoughtfully refined by the participating members. These declarations are often accompanied by joint communiqués that outline the Group's collective commitments and visions on economic, social and ecological issues.
In recent years, the G-11 has also used its platform to engage with non-members, including civil society groups and other countries, to foster closer links between major economic powers and developing nations, and to facilitate closer economic coordination. This reflects an increasing awareness of the need for collaboration between the Group's members and other countries in order to solve global economic and environmental challenges.
G-11 countries continue to be among the most influential forces in the global economy, and the Group is a key voice in global economic policy. Through initiatives like the G-11, countries can work together to ensure global economic balance and stability, and foster greater prosperity for people and nations alike.
The primary objective of the G-11 is to promote global economic growth and development, by establishing common approaches to international economic issues, stimulating international investment and trade, and providing a forum for the exchange of information, views, and opinions on economic and financial policies. By harmonizing economic policies and working together on a multilateral basis, the G-11 nations seek to achieve a more efficient and effective use of financial and economic resources.
Since its formation, the Group of 11 members have been actively engaged in a number of activities. These activities have included: holding meetings on a regular basis to discuss and exchange information on their respective economic and financial conditions, preparing for the G-7 Summit process and periodically issuing joint communiqués and statements; conducting a post-financial crisis review of international financial architecture; developing a framework for coordinated policy responses to fight global climate change; and engaging in cooperative attempts to promote shared development goals and strengthen the multilateral trading system.
In addition to its official meetings, the G-11 also delivers wide-ranging public statements on global economic and financial issues. The statements typically take the form of "institutional declarations" that are prepared in advance and thoughtfully refined by the participating members. These declarations are often accompanied by joint communiqués that outline the Group's collective commitments and visions on economic, social and ecological issues.
In recent years, the G-11 has also used its platform to engage with non-members, including civil society groups and other countries, to foster closer links between major economic powers and developing nations, and to facilitate closer economic coordination. This reflects an increasing awareness of the need for collaboration between the Group's members and other countries in order to solve global economic and environmental challenges.
G-11 countries continue to be among the most influential forces in the global economy, and the Group is a key voice in global economic policy. Through initiatives like the G-11, countries can work together to ensure global economic balance and stability, and foster greater prosperity for people and nations alike.