Leading independent industry associations and business organizations from G20 countries outlined strategies of the global business community for 2015

Leading independent industry associations and business organizations from G20 countries outlined strategies of the global business community for 2015. At their meeting in Istanbul on January 18 – 19, 2015 they also agreed to give special attention to the digital economy in the year ahead. This will lead to a series of activities around digital infrastructure, corporate data responsibility and the untapped possibilities for all sectors of the economy.

“More than ever, the private sector has a central role to play in fostering and sustaining growth and in restoring competitiveness,” said Perrin Beatty, President of the B20 Coalition. “It is also very important for business to be at the forefront and lay the foundations of what will make our countries more competitive in the coming years”.

The B20 Coalition (now known as the  Global Business Coalition), founded in 2012, is a group with a shared mission to address policymakers of G20 countries on behalf of more than 6.8 million businesses of all sizes and from all sectors. The group continues to advocate enhanced collaboration between the private sector and G20 governments in the current uncertain and challenging economic and geopolitical environment.

The global economy is in a state of flux. 2015 presents new challenges for the sustainable growth of economies and businesses. G20 countries have already made a commitment to meet those challenges by pledging, during G20 Australia 2014, that they would achieve an additional 2 percent growth during the next five years.

The private sector is determined to work with governments and other stakeholders to build resilience in the world economy. The B20 Coalition calls on the G20 governments to assist their efforts, not only through budgetary discipline and redirection of spending towards investment, but also by removing barriers to business activity and improving international coordination in key areas such as digital security and tax policy. To increase productivity and promote growth, governments must prioritize initiatives to improve competitiveness and have clear goals and mechanisms to monitor the results.

Assuming the G20/B20 Presidency in 2015, Turkey has identified Inclusiveness, Implementation and Investment for growth as key priorities. B20 Coalition members endorsed these priorities, and agreed to give the digital economy special attention in the year ahead.

Perrin Beatty said, “Co-ordinated application of digital technologies is essential to drive innovation, competitiveness and economic growth. There is an urgent need to assess all aspects of this new industrial revolution and create robust systems through which risks are minimized and benefits maximized.”

To download the Press Release – click here

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