World leaders have asked Australia to host the G20 leaders summit in 2014, as plans to get Europe back on track failed but progress was made on global trade and jobs.

Prime Minister Julia Gillard, who will get to set the summit agenda, said she would consult with the state premiers on who would host the event.

Julia Gillard speaks with Canada's Prime Minister Stephen Harper (left) and India's PM Manmohan Singh at the G20 Summit in Cannes. Credit:Reuters

"Hosting the G20 will allow Australia to set and shape the international agenda on issues of fundamental importance to our national interest, including the health of the global economy, financial regulation, trade, jobs and clean energy," she said.

While the final communique spelled out plans for a jobs task force, stronger powers for the bank watchdog, financial sector reform and a way forward for the stalled Doha trade round, the leaders failed to agree on the future direction for Europe.