BRISBANE - Australian treasurer Joe Hockey said on Thursday that the emission reduction agreement made between China and the United States was welcomed, but he emphasized the focus of the G20 in Brisbane was on growing the world economy.

Hockey, who hosted the G20 finance ministers in Cairns in September, said although "climate change is hugely important", there were many other issues affecting the world economy.

These include economic growth, infrastructure investment, lifting people out of poverty, creating jobs, and ensuring multinational companies pay their fair share of tax, Hockey told reporters at a press conference.

"We welcome the agreement of between the China and the U.S. and it is hugely important for the world with the first and second largest economies in deep dialogue," he said.

"But there are many issues and everyone is determined to deliver on this plan."

Hockey made the comments at a press conference ahead of the G20 leaders' summit in Brisbane as the world leaders started to arrive in the northern Australian city.

He said the world leaders would most probably discuss the climate pact made between China and the United States as well as other outside issues, such as the Ebola epidemic in west Africa.

"Structural reform will deliver growth and we are planning to get real outcomes," Hockey said.