SINGAPORE - Germany has invited Singapore to attend the annual meetings and leaders' summit of the world's major economies next year, Singapore's Foreign Affairs and Finance Ministries said on Friday (Dec 2).

The Hamburg Summit in July 2017 will be the 12th meeting of the Group of 20(G20) heads of state and government, who will discuss the challenges confronting the global economy as well as policies to promote strong, sustainable and balanced growth.

The ministries said in a statement that Singapore and Germany enjoy excellent relations and cooperate closely in multilateral fora.

"As a major financial centre and hub for investments into Asia, Singapore looks forward to contributing to G20 discussions on global financial reforms, the multilateral trading system, employment and digitalisation," the statement added.

Singapore is not a member of the G20, a group that comprises the world's 20 largest developed and developing economies. These make up two-thirds of the world population, form 85 per cent of the global economy and account for over 75 per cent of world trade.

Singapore has, however, been invited to participate in the G20 summits and related processes in 2010, 2011 and 2013 to 2016, as a representative of the Global Governance Group (3G) - an informal grouping of 30 small and medium-sized countries led by Singapore.

The 3G aims to promote greater transparency and inclusivity in the G20 process by encouraging stronger linkages between the G20 and the broader UN membership

"Singapore appreciates Germany's efforts to reach out to non-G20 members," the ministries added. Singapore aims to promote stronger engagement between the G20 and the 3G, as well as the wider United Nations membership, they said.

"Singapore looks forward to working closely with Germany, other G20 members, and invited partners, to achieve a successful outcome at the Hamburg Summit and other meetings," the statement added.