What is the program this year?
US President Joe Biden and UK Prime Minister Boris Johnson held bilateral talks ahead of the G-7 summit. | Photo credit: Twitter Highlights Notably, the summit comes on the heels of a landmark agreement reached by G-7 finance ministers earlier this week on the implementation of a minimum tax rate for all multinational companies. High on the agenda is likely to be a $ 50 billion vaccine distribution proposal aimed at increasing vaccine availability in poor countries. The pandemic may also have encouraged countries to improve collaboration on the existential threat of climate change The Foreign Office confirmed on Thursday that Prime Minister Narendra Modi will virtually attend the G-7 summit outreach sessions scheduled for June 12 and 13. The confluence of leaders from the United States, Canada, France, Germany, Italy, Japan and the United Kingdom will also this time welcome special guests from South Africa, Australia and from South Korea. Indias participation was facilitated by the decision of the host British government to extend one of its invitations to Prime Minister Modi. The Presidents of the European Commission and of the European Council will also attend the meeting, it seems. The G-7 summit is regarded as one of the premier forums where leaders of the largest and most advanced economies come together to collaborate. The cumulative list of participants this time will represent 2.2 billion people  over 60 percent of the population living in democracies around the world  and more than half of the global economy. Under the theme Build Better, the UK government has identified four key talking points: charting the way out of the COVID-19 pandemic and building resilience in the face of future public health emergencies, ensuring future prosperity through free and fair trade practices, fight against the climate crisis and the projection of democratic values and an open society. Global minimum tax rate Notably, the summit comes on the heels of a landmark agreement reached by G-7 finance ministers earlier this week on the implementation of a minimum tax rate for all multinational companies. Further talks on the pact are expected to take place, involving all 135 member countries of the Organization for Economic Co-operation and Development, later in the summer. The deal may be one of the summits main talking points, but the finer details of the resolution are unlikely to be worked out here. Vaccine distribution plan At the top of the agenda will likely be a $ 50 billion vaccine distribution proposal aimed at increasing vaccine availability in poor countries, in coordination with the International Monetary Fund, the World Health Organization and the World organization of commerce. British Prime Minister Boris Johnson has pledged to vaccinate the whole world by the end of next year, with his Foreign Secretary Dominic Raab stressing the importance of the WHO COVAX initiative to achieve this. The debate over COVID-19 vaccine patent waivers may also be part of the discussion with the UK which recently responded to the US plea for relaxation of intellectual property rules by suggesting transfers of ownership instead. technology from pharmaceutical companies with a not-for-profit pricing model. Climate change The pandemic may also have encouraged countries to improve collaboration on the existential threat of climate change. 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