Britain announced plans to hold the first in-person meeting of the G7 for nearly two years in June, inviting the leaders of major developed economies to a picturesque seaside village to discuss climate change and rebuilding after the pandemic.
UK Prime Minister Boris Johnson said he wanted to use Britain's presidency of the G7 to forge a consensus that the global economy must recover from the Covid-19 crisis in a pro-free trade and sustainable way.
"Coronavirus is doubtless the most destructive force we have seen for generations and the greatest test of the modern world order we have experienced," he said.
"It is only right that we approach the challenge of building back better by uniting with a spirit of openness to create a better future."
Last year's G7 meeting, due to be hosted by US President Donald Trump, was cancelled because of the pandemic, meaning the leaders of Britain, Germany, France, the US, Italy, Japan, the EU and Canada have not met in person since the 2019 summit in Biarritz, France.
The Sunday Telegraph said the British government hoped the event would mark Joe Biden's first trip to Europe after he becomes US president on January 20.
"I don't think he will visit anywhere else before the G7, except possibly Canada," the newspaper quoted a British government source as saying.
Mr Johnson has also invited Australia, India and South Korea to attend.
The summit will take place in the tiny resort of Carbis Bay in Cornwall, south-west England. It is an area most famous for its beaches and surfing, but is also home to fishing fleets and was once an important mining area.
"Two hundred years ago Cornwall's tin and copper mines were at the heart of the UK's Industrial Revolution and this summer Cornwall will again be the nucleus of great global change and advancement," Mr Johnson said.