G20 ministerial meeting opens in Buenos Aires

09:23 | 20/03/2018 Global Economy

The first G20 meeting of finance ministers and central bank governors began on March 19 in Buenos Aires, with the presence of 57 delegations from countries and institutions.

Argentina's Secretary of Treasury Nicolas Dujovne is applauded as he arrives for the official photo at the G20 Meeting of Finance Ministers in Buenos Aires, Argentina, March 19, 2018 - Photo:Reuters

The summit, held at the capital's Center of Exhibitions and Conventions (CEC), gathers 22 finance ministers, 17 central bank governors and 10 heads of international organizations, including IMF Director-General Christine Lagarde and Administrator of the United Nations Development Programme Achim Steiner.

With Argentina presiding the G20 this year, topics under discussion are likely to be infrastructure and the future of work in the digital arena.

After the US announced tariffs on steel and aluminum imports of 25 and 10 percent respectively, the delegations are expected to put out a joint statement on the matter.

G20 officials fretted about the dangers that a potential trade war posed to world economic growth.

"The first risk is the risk of inward looking policies and protectionism," European Commissioner for Economic and Financial Affairs Pierre Moscovici told reporters after the first day of talks. Protectionism could damage growth, he added.

This is the first of five such meetings to be held before Argentina hosts the G20 Summit on November 30-December 1.

The second meeting of G20 finance ministers and central bank governors will be held in Washington on April 20 before returning to the Argentinean capital on July 21.

Theo Xinhua, Reuters