Today I will travel to Fukuoka, Japan, to attend the second G20 Finance Ministers’ and Central Bank Governors’ Meeting under Japan’s 2019 G20 Presidency.
The G20 brings together the world’s major advanced and emerging economies and is the premier forum for international economic cooperation. The meeting will take place against the backdrop of moderating global growth and an escalation of global trade tensions.
Australia will use its seat at the table to reinforce the importance of free trade as a means to higher economic growth, job creation and living standards.
Australia has played a key role in developing the global infrastructure agenda, and at the meeting we will be advancing the principles underpinning the G20’s infrastructure initiatives.
I will also continue Australia’s leading role in support of the base erosion and profit shifting (BEPS) project and our commitment to achieving a multilateral, consensus-based solution to the tax challenges arising from digitalisation.
I will also take the opportunity to strengthen Australia’s relationship with key bilateral partners, including meetings with the Japanese Deputy Prime Minister and Finance Minister Taro Aso, United States Treasury Secretary Steven Mnuchin and Indonesian Finance Minister Sri Mulyani Indrawati among others. I will also meet with the Chair of the Federal Reserve Jerome Powell.
Following the G20 meeting, I will visit Germany, the United Kingdom and United States to advance Australia’s interests in the global economy at a time when strong bilateral relationships are especially important. This includes meeting significant global investors with interests in Australia.
During my visit, I will also be discussing with my counterparts productivity enhancing reforms and the impact of technological and financial innovation on their economies.