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The members of the G8 — France, the United States, the United Kingdom, Russia, Germany, Japan, Italy and Canada, together with the European Union — command a majority of the world's capabilities in such fields as GNP, trade, finance and direct foreign investment.
At the annual G8 Summit of their leaders and through a host of ministerial forums, they have moved adroitly to address priority challenges in the fields of economics, security and the new generation of transnational or global issues.
Amidst the competition to secure their respective national interests, the members of the G8 have arrived at well-tailored and ambitious agreements to shape the new international order in such areas as security, trade policy, human rights, development assistance and macroeconomic co-ordination.
Despite widespread media skepticism since its founding in 1975 and continuing concerns about its legitimacy and representation, the G8 stands as the one system of international institutions providing effective political direction for our rapidly evolving world.
