g7, g7 summit, g7 countries, g7 economies, indian economy, global economy, chinese economy
European Central Bank President Mario Draghi smiles as his wife adjusts his hair at the Petruzzelli Theatre during a G7 for Financial ministers in the southern Italian city of Bari, Italy May 11, 2017.Reuters file

Representatives of G7 nations are holding their first working session in Italy on Friday, focused on economic incentives for growth and financial regulation.

The agenda of the summit, being attended by finance ministers and banking representatives of the world's seven most industrialised nations, began at 8.40 am in the city of Bari, with a symposium with reputed economists, Efe news reported.

The meeting will last four hours and post-lunch the participants will hold the first of the four working sessions scheduled until Saturday.

The discussions will be private and are expected to last for four hours.

In the evening, the participants will visit Matera, around 65 km from Bari and famous for its Sassi settlements and rupestrian churches.

Among those attending the summit in Bari are US Secretary of the Treasury Steven Mnuchin, Italy's Finance Minister Pier Carlo Padoan, Germany's Wolfgang Schauble, France's Michel Sapin, the UK's Philip Hammond, Canada's William Morneau and Japan's Taro Aso.

g7, g7 summit, g7 countries, g7 economies, indian economy, global economy, chinese economy
Tourists are seen, where leaders from the world's major Western powers will hold their annual summit, in Taormina Italy May 2, 2017.Reuters file