A couple of weeks after the Saudi 20 Summit and in advance of the G20 Summit this week-end, the partnering federations of the Global Business coalition have discussed the issue of the crisis in order to find more efficient ways to support the economy and the businesses amidst the pandemic.

Through the unique cross-cultural & sectoral exchange of views that followed, the GBC members came to the conclusion that demonstrable progress was still awaited in three specific areas and therefore issued a call to the G20 leaders to take critical action about:

  • The support to the economic activity during the pandemic, with a fine-tuned balance between public health and economic considerations and a repeated opposition to export restrictions on medical devices, medicines & food products. GBC members also call on the G20 leaders to support a gradual and safe return of international mobility (air traffic & business travels) through agreed G20 standards.
  • Innovative tools to try & overcome the pandemic, supporting vaccine development and coordinating efforts to avoid vaccine protectionism and ensure a worldwide distribution. Given the nature of the COVID-19, only a widely distributed vaccine will be effective in containing the pandemic and enabling a full resumption of economic activity. GBC members also consider the WHO should play a strengthened role to coordinate the response to this global health crisis.
  • The essential stimulation of economic growth, including the resumption of global commerce as an engine of growth with a sustainable perspective. And considering the essential role the digital economy is playing during the pandemic, GBC members agreed on the need for G20 leaders to fully support an ambitious outcome for the e-commerce negotiations.

This Joint Statement, endorsed by all the federations members of the GBC, is a strong call to G20 leaders to take global, coordinated actions for a sound recovery.

GBC members will remain alert to the developments concerning the crisis and focused on the support of businesses and industries that provide employment and growth worldwide.

Read the entire GBC Joint Statement G20