History of the G7

The Group of Seven, or G7, is an intergovernmental political and economic forum that began as a meeting of finance ministers but has since become a formal, high-profile venue for discussing and coordinating solutions to major global issues, especially in the areas of trade, security, economics, and climate change.

Each member's head of government or state, along with the EU's Commission President and European Council President, meet annually at the summit. Representatives of other states and international organizations are often invited as guests.

The G7 is not based on a treaty and has no permanent secretariat or office. It is organized through a presidency that rotates annually among the member states, with the presiding state setting the group's priorities and hosting the summit; Italy presides for 2024.

Members include Canada, France, Germany, Italy, Japan, the UK and the US. The EU also takes part but is a non-enumerated member.

The history dates back to March 25, 1973, when United States Secretary of the Treasury, George Shultz, convened an informal gathering of finance ministers from West Germany, France, and the United Kingdom.

The G7 was the G8 until 2014 when Russia's membership was suspended in response to its annexation of Crimea.