On the agenda of the two-day meeting are such issues as securing a balance between expanding social security and maintaining sound finances, redressing current-account imbalances and cooperation to curb competitive currency devaluation

The finance chiefs will also discuss how to secure finance to enhance economic growth in such areas as infrastructure, small and medium-sized companies and tackling climate change.

And a joint statement as well as a "Kyoto Report on Growth Strategy and Finance" is expected to be adopted towards the end of the gathering, when the finance chiefs will likely pledge greater cooperation in promoting economic growth in the region and addressing world trade imbalances.

The conference, which opened late Friday with a dinner reception hosted by the Japanese side, is convened in the run-up to the Asia-Pacific Economic Cooperation (APEC) Leaders' Week meetings scheduled for November 7-14 in Japan's second largest city of Yokohama.

APEC is a forum which aims to facilitate economic cooperation among 21 member economies in the Asia-Pacific area.