Today I will be travelling to Buenos Aires, Argentina, to attend the first G20 Finance Ministers and Central Bank Governors Meeting under Argentina’s 2018 G20 Presidency.
In addition to attending the G20 meeting, I will be holding discussions with US Treasury Secretary Steven Mnuchin and UK Chancellor Philip Hammond as well as my counterparts in Canada, France, Italy and Singapore.
I will be returning via London to attend the International FinTech Conference. The G20 meeting is an opportunity to reflect on recent global economic developments with my international counterparts and decide on responses to the opportunities and challenges that they present.
Global economic growth has continued to strengthen in recent months. While signs suggest that this should continue, risks, including a retreat to inward-looking policies, remain. International trade and economic openness have been vital to growth, job creation and development. I will stress to my counterparts the importance of keeping our doors to global trade open because there are no winners from trade restrictions.
A key priority for Argentina this year across the G20 agenda is technological change – how we can harness the benefits while dealing with any challenges. Discussions will focus on the impact of technological change on the future of work, crypto-assets and taxation of the digital economy. I will emphasise the importance of the G20 working together to ensure that large digital multi-nationals pay their fair share of tax.
In London I will be attending the International Fintech Conference at invitation of the Chancellor of the Exchequer, Philip Hammond, to deliver a keynote address. I look forward to the opportunity to highlight the close relationship we have with the United Kingdom and the way we can work together to assist FinTechs to take their place in the global financial sector. As I have done on other international visits, I will be promoting the success of Australian firms in providing innovative financial services that meet the needs of consumers no matter where they live.
While in London, I will also hold a number of meetings with United Kingdom business leaders and government representatives. I look forward to representing Australia’s interests during these important international meetings.