Federal Treasurer Josh Frydenberg will jet off to Indonesia for his first G20 meeting since the beginning of the pandemic.
The Treasurer will attend a two-day meeting with his finance counterparts in Jakarta to discuss responses to the pandemic including the strain on health care systems and the ongoing economic recovery.
International taxation and financial infrastructure and architecture will also be on the agenda for the global body which represents 75 per cent of all global trade.
It will also see the G20 convene to discuss and determine the global economic outlook in light of the pandemic and rising geopolitical tensions in both Europe and the Indo-Pacific.
Mr Frydenberg outlined an intention to promote Australia's economic resilience during the pandemic compared to the northern hemisphere and bolster the nation's interests in the region.
"The G20 meetings hosted by Indonesia this year come at a time of heightened global economic uncertainty, with the pandemic causing supply chain disruptions, workplace absenteeism and the return of higher inflation," he said.
"The G20 meetings are also an important opportunity to reaffirm our commitment to an open, free, rules-based trading system against the backdrop of increasing geopolitical tensions and rising strategic competition."
During the talks, Mr Frydenberg is also poised to boast Australia's outperformance compared to other major economies, highlighting the country was first to see gross domestic product and employment surpass pre-pandemic levels.
"Australia also has a strong story to tell in combating many of these global challenges with our economic recovery exceeding all expectations," Mr Frydenberg said.
"We have outperformed all major advanced economies throughout the pandemic, with both GDP and employment surpassing pre-pandemic levels."
Australia is one of nine nations which have retained a AAA credit rating and an employment level higher than all major advanced economies including the United States, United Kingdom, Germany and Japan.
Unemployment for the December quarter printed at 4.2 per cent, with Treasury and the Reserve Bank expected the indicator to push below 4 per cent by the end of the year.
His venture to Indonesia comes as Treasury secretary Dr Steven Kennedy during estimates on Wednesday said current fiscal policy settings need to be tapered to support the goal of reaching full employment.
Dr Kennedy said Australia currently has the highest employment to population ratio in the world.
The secretary noted macroeconomic policy settings are coming to an "but are far from neutral".
Dr Kennedy flagged the Omicron wave had less scarring on the labour market, but did note total hours worked had been impacted by staff shortages and isolations.
The visit is also set to outline the federal government's commitment to global free trade agreements.
"Through the G20 we have an important opportunity to work collaboratively with our global partners to continue to respond to the ongoing challenges posed by the pandemic, and to back in the global economic recovery," Mr Frydenberg said.
The talks will be held over February 17 and 18.
Mr Frydenberg said the visit also underscores the importance of Australia's partnership with Indonesia" and engagement in the region.
