On November 15, 1975, U.S. President Gerald Ford and leaders of five other leading democracies gathered for talks at a castle outside Paris, planting the seed for what subsequently became the Group of Seven nations. This was reported by Qazaqyia.kz citing Associated Press.
The initial six industrial powers – the United States, Great Britain, France, West Germany, Italy, and Japan – huddled at the Château de Rambouillet for three days of brainstorming about fixes for the global economy. They became the G7 the following year when Canada joined the elite club.
On the first day of the summit, President Ford called on leaders of five other major industrial nations to set themselves the task of transforming the world's economic slump into prosperity by 1977. Addressing the opening session, Ford "categorically rejected the view" that expansion in the industrial world is impossible at pre-recession rates, an aide told newsmen.
Participants included: Premier Aldo Moro of Italy, Premier Harold Wilson of Great Britain, President Gerald Ford of the United States, President Valery Giscard d'Estaing of France, Chancellor Helmut Schmidt of West Germany, and Premier Takeo Miki of Japan. They posed for a group portrait on November 17, 1975 at the Château de Rambouillet.
The summit discussed ways to restore the global economy, combat inflation, and reduce unemployment. This meeting became the foundation for economic and political coordination among G7 nations in subsequent years.
The next G7 summit is in France next week. As part of its coverage, The Associated Press is republishing extracts of the story that AP correspondent Arthur L. Gavshon wrote on the first day of the inaugural summit in 1975.