Turkey will take over the G20 presidency from Australia in 2015, due to annual rotation.
During the meeting, scheduled for February 21-23, finance officials are expected to discuss volatility in the emerging markets after the U.S. Federal Reserve began scaling back its bond-buying program in January.
During the event, Babacan will attend a signature ceremony to establish the Australian-Turkish Business Council, organized by the Australia Industry Group and Turkey's Union of Chambers of Commerce and Commodity Exchanges.
Hosting the G20 in 2015 will give Turkey a valuable opportunity to influence the economic policies of the major economies of the world and contribute to a healthy, growing and resilient global economy.
In turn, it is hoped that it will increase jobs, living standards and long-term prosperity in Turkey.
The G20 includes 19 countries and the European Union. The G20 works closely with international organizations, including the International Monetary Fund, the World Bank, the OECD and the United Nations. These organizations are invited to attend key G20 meetings. Additionally, five guest countries are invited each year.