Australia aims for global growth agreement at G20 meeting

Tue Feb 18, 2014 9:57pm EST
 
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* Host Australia to push for agreements on growth, focus on infrastructure

* G20 to discuss taxation and impact of Fed taper

* Finance ministers, central bank heads to meet in Sydney

By Ian Chua

SYDNEY, Feb 19 (Reuters) - Australia will use its presidency of the Group of 20 advanced and emerging economies to push for agreements on strengthening global growth and to generate ideas on funding public infrastructure, Treasurer Joe Hockey said on Wednesday.

However, Hockey's push to reach a hard target for growth drew scepticism ahead of a weekend meeting of G20 finance ministers and central bankers in Sydney.

The G20, which represents about 85 percent of the world economy and 75 percent of global trade, will also discuss taxation and the withdrawal of the Federal Reserve's extraordinary stimulus, which has unsettled some emerging markets.

"There will be discussions about tapering and what it means for the global economy. Taxation arrangements, particularly in relation to major digital companies and transfer pricing by companies... that's going to be discussed," Hockey told a media briefing in Sydney.

The meeting will be the first of several G20 events to be hosted by Australia this year, culminating in a World Leaders Summit in November.   Continued...