Global Business Coalition urges G20 leaders to address key concerns of business community
Paris, May 05, 2014 – Six months ahead of the G20 Summit in Brisbane, the B20 Coalition (now known as the Global Business Coalition) is actively mobilizing its network across five key priorities for the business community.
The B20 Coalition, a group of leading independent business associations from G20 countries, has a shared mission to address G20 policymakers on behalf of more than 6.5 million businesses of all sizes and from all sectors.
Perrin Beatty, President of the B20 Coalition, said, “As the world slowly emerges from recession, Coalition members have identified five key areas where action is urgently required to bolster the recovery and create an enabling business environment.
“Our members, across the globe, have identified the following priorities for coordinated policy action: trade and investment, fiscal responsibility, energy, infrastructure and investment, and the digital economy. We also acknowledge the importance of investing in human capital, which runs as a thread through all these issues.”
The B20 Coalition’s five priorities will be the subject of a series of activities from May up to the G20 Summit in November.
As they highlight their concerns, the B20 Coalition will be calling on G20 Leaders for action in each area so as to create an environment in which the private sector can contribute to the fullest extent to boosting fragile economic recovery.
Addressing the G20 policymakers, Perrin Beatty, on behalf of members of the B20 Coalition said: “We represent today’s job creators and it is important that the issues our members have identified as key priorities be tackled head-on by our leaders. The private sector is part of the solution and we need to be involved in the discussions right from the beginning”.
Highlights from upcoming B20 Coalition Position Papers
Trade and Investment: To realise the potential of global value chains (GVCs) governments must streamline administrative and customs procedures, which would benefit not only importers of intermediate goods but also exporters. The G20 should commit to trade barrier reduction along the whole value chain. Regulatory convergence and mutual recognition agreements should be stimulated between G20 countries.
Energy: Governments must find ways to ensure that actions to address environmental challenges, particularly climate change, enhance economic growth and do not threaten security of supply. This can only be achieved by a transparent and thorough assessment of the effectiveness, costs and benefits, and energy security impacts of energy and environmental policies for the economy and society at large.
Fiscal Responsibility: Governments should design frameworks to allow both tax and expenditure policies to be comprehensively and jointly assessed against broad strategic priorities and stated fiscal objectives. This is essential to tackle fiscal pressure from trends such as ageing populations, rising health costs, and expansion of social security and health coverage. Solutions to these problems must preserve the private sector’s capacity to be a source of growth and one of the indirect mechanisms to address these challenges.
About the B20 Coalition
The B20 Coalition brings together leading independent business associations from G20 economies in a shared mission to address G20 policy-makers on behalf of more than 6.5 million businesses of all sizes and from all sectors.
This statement is issued in Berlin, Brasilia, Brussels, Buenos Aires, Istanbul, Johannesburg, Madrid, Mexico-City, New Delhi, Ottawa, Paris, Rome, Seoul, Sydney, and Washington DC by the B20 Coalition members.
B20 Coalition members
Ai Group, Australia • BDI, Germany • BUSA, South Africa • BUSINESSEUROPE, Europe • CCC, Canada • CEOE, Spain • CII, India • CNI, Brazil • Confindustria, Italy • Coparmex, Mexico • FKI, South Korea • MEDEF, France • TÜSİAD, Turkey • UIA, Argentina • US Chamber, USA •
To download the Press Release – click here
Image: Moyan Brenn, reproduced under a Creative Commons Attribution Licence