Final answer:
The G20 Summit's purpose is to bring together leaders of the world's largest economies to discuss global issues, foster economic stability, and promote sustainable economic growth. It serves as a key forum for international policy cooperation and formulation, addressing challenges like trade barriers, economic crises, and climate change.
Step-by-step explanation:
The purpose of the G20 Summit is to bring together world leaders from the largest economies to discuss a range of pressing global issues, including economic policy, trade, climate change, and sustainable development. The G20 aims to promote international financial stability, propose solutions that transcend national borders, and address challenges that affect the global community. It is an avenue for nations to collaborate on policies that can lead to sustainable economic growth, ease of access for global trade, and address issues such as economic crises and climate change.
The G20 Summit facilitates international cooperation and multilateralism, offering a platform for countries to come together to discuss and propose actionable policies. Significant outcomes of past G20 meetings include pledges for monetary aid during global crises and commitments to the Sustainable Development Goals (SDGs), which are aimed at creating a more prosperous, equitable, and sustainable world.
Through focused discussions and negotiations at these summits, countries aim to form a unified approach towards handling global trade system crises and to find pathways for promoting human security and sustainable growth. By working together, G20 participants strive to craft a rules-based international order that is fair, resilient, and benefits all members of the international community.