AlQa'dah 25, 1435, Sep 20, 2014, SPA -- G20 finance ministers and central bankers meeting in Cairns on Saturday to discuss ways to boost economic growth said Russia would not be excluded over its actions involving Ukraine, according to dpa. "The door will always remain open for communication in order to address some of the geopolitical tensions involving Russia," Australian federal treasurer Joe Hockey said. The bloc of wealthiest nations agreed that Russia should attend, he said. Russia had risked being shut out of the G20 in the standoff with Europe, the US and countries like Australia since it annexed a part of Ukraine earlier this year. "They are member of the G20, we expect they will attend the G20 meetings," Hockey said. Moscow has sent a delegation to the two-day meeting in Cairns, the third in a series of four prior to the G20 leaders' summit in Brisbane on November 15-16. Business leaders (B20) and civil society groups (C20) were also taking part in discussion in Cairns. G20 economic leaders have set a target of raising gross domestic product by at least 2 per cent over the next five years. It estimates that doing so would contribute more than 2 trillion dollars to world GDP and create millions of jobs. Proposals and recommendations on strategies to simulate growth and investment, create jobs, cooperate on monetary policy, regulate tax and develop infrastructure are to be discussed. Organisation for Economic Co-operation and Development secretary general Angel Gurria presented measures to help governments protect their tax bases and curb tax evasion. "Our recommendations constitute the building blocks for an internationally agreed and coordinated response to corporate tax planning strategies that exploit the gaps and loopholes of the current system to artificially shift profits to locations where they are subject to more favourable tax treatment," Gurria said. Business leaders asked G20 members to ensure reforms to encourage private sector investment and boost jobs worldwide.
