Dhaka, Bangladesh (BBN) - The ICC G20 Advisory Group, an initiative of the International Chamber of Commerce (ICC), consulted with the CEOs of leading regional and global companies to deliver business input on economic growth and job creation to G20 leaders.
The roundtable in Hong Kong on September 22-23, was hosted by ICC Honorary Chairman Victor K. Fung, who is Chairman of the Li & Fung group of companies. Outcomes of the discussions will form a basis for business views being brought to the G20 Summit, 3-4 November 2011, an ICC press statement said on Sunday.
“Recent events have shown the fragility of economic recovery and highlighted the need for forward-looking measures to support trade, global economic cooperation and job creation. Our focus on jobs is deliberate: every major economy is facing serious challenges in this area, whether due to fiscal concerns, demographic change, or social integration,” Mr. Fung said. “Business has an important contribution to make to the global recovery in terms of job creation. And a concerted “jobs agenda” from global leaders would in turn do much to boost confidence in the business community,” he added.
ICC Bangladesh President Mr. Mahbubur Rahman while endorsing the draft presented by the ICC G20 Advisory Group suggested a few additional points for consideration and inclusion in the policy recommendations. He mentioned among others that the G-20 should recognize explicitly that there are some members of the global community, such as the Least Developed Countries (LDCs), who require support to enable them to benefit from the processes of globalization and they should be given duty-free market access for all their exports to developed and developing countries.
With regard to encouraging green growth, Mahbubur Rahman suggested that the G20 leaders should recognize the countries that are now developed or in advanced stages of development did not worry about the consequences of their actions on the environment. On the other hand countries that are now developing find development to be much more expensive when meeting the environmental standards and as such special measures are required to assist these countries with both funds and technology, to enable them to meet the additional costs.
“Trade will play a key role in tackling the jobs crisis,” said ICC Secretary General Mr Carrier. “Economic growth depends largely on the capacity of G20 governments to improve the conditions for international trade and job creation, and business stands ready as a partner in this recovery.”
The roundtable brought together CEOs of leading companies from Bangladesh, India, Hong Kong, Singapore, Taiwan, Indonesia and France. Speakers included Mr Fung, ICC Secretary General Jean-Guy Carrier, and Schneider Electric CEO Jean-Pascal Tricoire.
The ICC G20 Advisory Group is, among other things, encouraging G20 leaders to reenergize multilateral trade negotiations prior to the World Trade Organization (WTO) Ministerial Conference in December.
The ICC G20 Advisory Group – which is comprised of more than 20 members at the helm of global corporations such as Daesung, Hanwha, Infosys Technologies, Nestle, McGraw Hill, Repsol, Royal Dutch Shell and SEB – is building a platform for substantive business engagement with the G20.
The other Members of the ICC Bangladesh delegation attended the consultation are Latifur Rahman, Vice President of ICC Bangladesh and Chairman & Managing Director, Transcom Limited, Syed Manzur Elahi, Chairman, Apex Adelchi Footwear Limited and Maj Gen Amjad Khan Chowdhury (Retd), President, Metropolitan Chamber of Commerce & Industry (MCCI), Dhaka & CEO of PRAN-RFL Group.
BBN/SSR/AD-25Sept11-10:28 pm (BST)