Gandhinagar: Meeting on the sidelines of the third G20 Finance Ministers and Central Bank Governors (FMCBG), Finance Minister Nirmala Sitharaman on Tuesday discussed various economic issues including inflation and trade with her Chinese counterpart Liu Kun here Tuesday.

"The Ministers also discussed the state of their economies, inflation, trade and recognised the importance of a good business environment for economic growth and development," said Finance Ministry in a Twitter post.

China's Finance Minister Liu Kun appreciated India’s leadership in G20 and stated that a lot of results have been achieved so far.

The two Ministers discussed G20 Finance agenda items in context of the ongoing G20 meeting which marks the culmination of the work on many of the key deliverables from the G20 Finance Track in 2023.

The Finance Ministry said key discussion items during the meeting of the two Ministers included deliverables under G20 India Presidency, including strengthening multilateral development banks (MDBs), global debt vulnerabilities and global partnership for financial inclusion (GPFI).

"Minister Liu Kun also appreciated work of the G20 Independent Expert Group for Strengthening MDBs setup under G20 India Presidency," the Ministry said.

Union Finance Minister Sitharaman appreciated China's efforts as co-chair of the Sustainable Finance Working Group throughout under the G20 India Presidency.

The third G20 FMCBG meeting is being held in Gandhinagar to discuss a range of issues related to global economy, sustainable finance and infrastructure, international financial architecture and international taxation among others.

The objective of the 3rd G20 FMCBG is to review the outcomes of the G20 Finance Track and to seek guidance from Ministers and Governors on the way forward.

(With UNI Inputs)