Australia is confident leaders of all the Group of 20 nations will commit to a growth target of two per cent.
Brisbane will host the annual G20 summit in November.
Trade Minister Andrew Robb – who is visiting another G20 nation, Canada, with a business delegation – said submissions being received ahead of the summit were setting out what unilateral measures each country would take to meet the two per cent growth target which has been put on the agenda.
“They seem to be taking it quite seriously,” Mr Robb said.
“It’s really each country saying what they will do – they have all made a personal commitment.”
Mr Robb said there was a trend away from the debt-fuelled spending and “firestorm” of regulation which followed the global financial crisis, towards trade and investment being the key driver of growth.
“The early spending (during the GFC) was important to restore confidence. And some of the regulation was important,” he said.
“But they haven’t been weaned off it and they are starting to realise that the combination of public policy is not delivering sustainable economic growth high enough to make any inroads into unemployment.”