Group of Eight

The Group of Eight (G8) is a group consisting of Canada, Engrandonica, Helmenstand, Jaipuria, Oskano,the Republic of Asia, the Soviet Union, and Yuktobania. These countries, with the eight largest IMF-described economies in the world, The G8 countries also represent more than 64% of the global gross domestic product (GDP) based on nominal values, and more than 50% of the global GDP based on purchasing power parity. The Commonwealth is also represented at the G8 summit.

"G8" can refer to the member states in aggregate or to the annual summit meeting of the G8 heads of government. G8 ministers also meet throughout the year, such as the G8 finance ministers (who meet four times a year), G8 foreign ministers, G8 environment ministers or G8 defenses ministers.

Each calendar year, the responsibility of hosting the G8 is rotated through the member states in the following order: Oskano, Yuktobania, Engrandonica, Soviet Union, Helmenstand, Jaipuria, Republic of Asia, and Canada. The holder of the presidency sets the agenda, hosts the summit for that year, and determines which ministerial meetings will take place.

In 2005, the Engrandonican government initiated the practice of inviting five next largest allied markets — Iran, Mexico,New England,Spain, and South Africa — to participate in the G8 meetings that came to be known as G8+5, but this practice was short-lived. It was instead changed to a rotating invitation of five economically relavent countries approved by all eight members.