Major summit agenda of 2013 Russia G-20 Summit
This year's G20 Leaders' Summit will mainly focus on addressing the pending economic and financial issues developed and emerging countries are divided on.
One of the notable topics up for debate is countering the possible negative effects of Washington's plan to scale back its quantitative easing program.
While developed nations believe that putting an end to stimulus measures should come as part of economic normalization, developing countries are concerned that the move could hit their financial sectors hard due to a surge in capital outflow.
Other major topic points include ensuring mid-term financial stability, reforming the global financial system and preventing tax avoidance by multinational firms.
"Korea's presidential office of Cheong Wa Dae explained that this year's summit here in Saint Petersburg aims to 'revive the original function of the G20,' which is coordinating policies among major economies so that they can overcome economic difficulties together."
In particular, this year, the host country, Russia, is putting great emphasis on the issue of job creation with the world facing "low growth and high unemployment."
Another hot issue on the table is Syria.
Although it's not on the official G20 agenda, a fierce debate is likely to take place behind the scenes, especially between the U.S. and Russia, over the possibility of military action in the war-torn country.
Washington will try to draw support from the international community for intervention, especially since Britain and Germany have decided not to take part in any military strike.
Russia, a firm ally of the Assad regime will in turn try to use the meeting as what the Russian president called "a good platform" to turn the tables on the U.S.
Eoh Jin-joo, Arirang News, Saint Petersburg.
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