Today, I am pleased to announce that Sydney will host the first of two meetings of Group of 20 Finance Ministers and Central Bank Governors on 21-23 February 2014.
This is the first ministerial-level meeting during Australia's G20 Presidency and will position Sydney at the centre of global financial and economic policy development in February 2014.
To coincide with the G20 meeting, the Bank for International Settlements will also hold its own meeting of Central Bank Governors in Sydney, highlighting the spin-off benefits of hosting the G20. Other international forums hosting partner events will give a further economic boost to our host cities and we expect to see similar partner events in other cities.
The two Sydney meetings will be an excellent opportunity to showcase Australia's largest city to more than 2000 international delegates, support staff and international media. The events will also provide a boost to local tourism providers and promote Sydney as a great place to do business.
Later in the year Cairns will host the second meeting of Finance Ministers and Central Bank Governors.
Australia's G20 Presidency will culminate with the G20 Leaders' Summit in Brisbane in November 2014.
The G20 is the most important global forum for tackling the world's economic challenges and building the foundations for a prosperous and sustainable future. Member countries account for 85 per cent of global GDP, 80 per cent of global trade, and most of Australia's major trading and investment partners.