Federal Treasurer Joe Hockey feels there is a collective intention to get real outcomes at this weekend's Group of 20 meeting.
Mr Hockey is hosting finance ministers and central bankers from the world's major economies in Sydney's CBD, the first gathering under Australia's 2014 presidency.
"I have a great sense of hope that this G20 ... meeting will be able to lay down a real and tangible framework," Mr Hockey told reporters at the G20 media centre on Saturday.
"There is a general mood of intention to deliver real outcomes."
Mr Hockey was holding a series of bilateral morning meetings before the conference proper during the afternoon with a detailed discussion on the global economy.
He said delegates were fully aware of the challenges facing the global economy and the level of volatility in international financial markets.
A number of high profile delegates - including International Monetary Fund chief Christine Lagarde and UK Chancellor of the Exchequer George Osborne - have thrown their support behind Mr Hockey's aim of reaching an agreement on a growth target.
This would be above the IMF's global growth forecast of 3.7 per cent for this year.
He said support for the idea is "building" but there is also some reluctance to have a target.
Delegates attend a working dinner on Saturday evening to discuss infrastructure and how to facilitate private investment to fuel economic growth.
Those deliberations will feed into Sunday's opening session on growth strategies.
Other topics will be on financial regulation, IMF reform and international taxation.
Mr Hockey will release the G20 communique on Sunday afternoon.
"There is much work to be done but the level of commitment from ministers and central bank governors is impressive," Mr Hockey said.
