But the G7 has no legal existence, permanent secretariat or official members. And all of its decisions and commitments made at G7 meetings need to be ratified independently by governing bodies of member states.
The G7 summit began formally on Friday. British PM Boris Johnson and US President Joe Biden have also pledged to share Covid vaccine shots. The US will share 500 million doses and one Mr Boris Johnson for another 100 million shots.
The meeting at the resort of Carbis Bay intends to chart out ways to energise the world economy. More is yet to come from the meeting which is the first since the coronavirus outbreak.