NEW DELHI - Ahead of the G8 summit in Italy, External Affairs Minister S.M. Krishna Monday launched the website of the outreach partners, an important step that underlines increasing congruence among G5 countries which share common positions on key global issues.

“The website will also serve to provide greater visibility to our group,” Krishna said before formally launching the G5 website.

The G5 countries include India, China, Brazil, South Africa and Mexico - outreach partners which are invited by the G8 group of the world’s wealthiest countries.

Leaders of the G5 countries meet on the sidelines of the G8 summit, which will take place in Italy July 8-9. Over the years they have developed common positions on important global issues such as food security, climate change, energy security, development, international trade and others.

The website underlines the emergence of “a cohesive group of 5 major developing economies with considerable influence over today’s pressing global issues”, Krishna said.

“Apart from interacting in the context of the G8 Outreach Summits, we are all members of the G20 which is addressing the current global economic and financial crisis,” Krishna said at a function that was also attended by ambassadors of G5 countries.

“Our coordination in this context is equally important given the reach and depth of the current global economic and financial crisis and the urgent need for the reform of international financial institutions to ensure both a sustainable recovery from the current crisis and also to prevent recurrence of such crises in future,” he said.