Wellington, Dec 1 (IANS): New Zealand has been invited to attend next year's G20 meet during Australia's chairmanship, New Zealand Prime Minister John Key said Sunday.

New Zealand is not a member of the group because it is too small, and this will be the first time Australia's neighbour in South Pacific has been invited to contribute to a full year's deliberations, reports Xinhua.

The host of the annual G20 meeting can invite additional countries it thinks will add value during its chairmanship.

Key said Australian Prime Minister Tony Abbott called him Thursday to extend the invitation.

He said as a small trading nation, New Zealand has a significant stake in the global economy and it will provide valuable input.

John Key added that it will bring some "small economy's" perspectives to the discussions, which may be somewhat different from the issues faced by major economies.

The G20 revolves around a number of meetings of finance ministers and central bank governors, and culminates in a summit meeting of leaders towards the end of the year.

The G20 group comprises Argentina, Australia, Brazil, Canada, China, France, Germany, Indonesia, India, Italy, Japan, Republic of Korea, Mexico, Russia, Saudi Arabia, South Africa, Turkey, Britain, the United States and the European Union.

They account for 90 percent of global gross domestic product and 80 percent of international trade, and the forum is seen as a key vehicle for tackling the world's economic challenges.