Amidst the COVID-19 violent crisis, the 16 federations members of the Global Business Coalition issued a vibrant call to G20, urging governments to take measures to help fight the pandemic and mitigate its effects on people and markets.
GBC members call upon global leaders and policymakers to implement the following measures:
- Implement concrete measures, appropriate to each country’s circumstances, for boosting economic vitality, e.g. temporary tax credits, measures supporting short-term corporate financial liquidity with particular focus on SMEs, measures stabilizing financial institutions and financial markets and other appropriate fiscal and monetary policies supporting demand. Coordinate these measures internationally where possible and appropriate.
- Minimize disruptions to global value chains and refrain from unnecessary new regulations and trade barriers. We acknowledge the validity of temporary restrictions on movement of people across borders imposed by many national authorities in order to help national health systems deal with the spread of Covid-19 . At the same time we highlight the necessity to mitigate negative impact on economies by sustaining international trade and investment, which urgently requires coordination of protocols and exceptional procedures.
- Communicate with private sector in a regular and transparent manner in developing economic policies in response to the pandemic.
As business federations, they will step up their joint efforts in sharing best practices with regards to the pandemic-response efforts in industry and business & harnessing business communities capacity, mobilizing collective action to facilitate business continuity.
On-going dialogue with business, employees and their representatives on the scope, content and implementation of extraordinary measures is essential to mitigating the negative impact of COVID-19 on employment and business.
Read the complete call here GBC General COVID 19 Statement25032020 Signed version