The Group of Eight (G8) also known as Group of Seven and Russia, is an international forum for the governments of Canada, France, Germany, Italy, Japan, Russia, the United Kingdom and the United States. Together, these countries represent about 65% of the world economy[LINK: http://www.undp.org] United Nations Development Programme and the majority of global military power (7 of the top 8 positions for military expenditure, and almost all of the world's active nuclear weapons.) The group's activities include year-round conferences and policy research, culminating with an annual summit meeting attended by the heads of government of the member states. The European Commission is also represented at the meetings. Each year, member states of the G8 take turns assuming the presidency of the group. The holder of the presidency sets the group's annual agenda and hosts the summit for