Government calls International business talks on Global recovery
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Issued Date: 05 Mar 2009
Business Secretary Peter Mandelson will bring together
business leaders from the world's advanced and emerging economies to
map out the challenges to international business on the path to
At a G20 Business Conference in Downing Street later this
month, the Business Secretary will seek to gauge how the interventions
by international governments in the downturn are impacting on global
business, and set out a clear agenda to overcome the remaining
obstacles to trade.
Announcing the Conference today, Lord Mandelson said:
"The global banking crisis that has buffeted businesses around
the globe won't be reversed without a coordinated international plan of
"The reality is that we now live in a globalised world, where
the smallest family run business in Britain can feel the impacts of
decisions made by corporations and governments across the globe.
"That's why we need to work together, to be realistic about
the global challenges that exist for business and face them head on.
Only with a clear agenda for recovery will our businesses emerge
stronger and as a result ready to take on the environmental and
economic challenges of the 21st century world."
Business representatives from across the world's advanced and
emerging economies, including the G20, have been invited to attend the
Conference, which is being held in partnership with the Confederation
of British Industry (CBI) on Wednesday March 18.
Martin Broughton, President of the CBI, said:
"This summit will provide a genuine forum for open and honest
debate and for a wide variety of views to be aired on the key
challenges impacting on day-to-day business operations around the world.
"At the top of the agenda will be issues, such as
protectionism and trade finance, and how to create the conditions that
are needed for global business to prosper in the future.
"We look forward to welcoming our international counterparts
to this summit and ensuring that together we can help shape and inform
the G20's agenda in April."
Prime Minister Gordon Brown, who will attend the later stages
of the conference, will formally feed in the points raised into the
London Summit of G20 leaders on April 2nd.
The Conference is intended to be a genuine listening process,
but the agenda is expected to consider:
* The possibility of strengthening the nature of the G20
commitment to reject protectionism, previously outlined in Washington
* The Government interventions that have been effective in
advanced and emerging countries
* The obstacles to agreement on the World Trade Organisation's
Doha Development Agenda
* The decline in availability and increasing cost of trade
1. The G20 Business Conference will be held at Number Ten,
Downing Street on March 18th and will be closed to the media. A photo
call will be arranged on the morning of the Conference.
2. Attending will be business representatives from states
including the United Kingdom, Canada, China, the European Union,
France, Germany, India, Indonesia, Italy, Korea, Mexico, The
Netherlands, Russia, Turkey, Spain and the United States of America.
3. At the Washington summit G20 leaders undertook "to strive
to reach agreement [in 2008] on modalities that leads to a successful
conclusion to the WTO's Doha Development Agenda with an ambitious and
balanced outcome" and "to refrain from raising new barriers to
investment or to trade in goods and services, imposing new export
restrictions, or implementing WTO-inconsistent measures to stimulate
exports". The APEC Ministerial made a similar commitment.
4. While it has not so far proved possible to achieve the
necessary progress on the Doha negotiations, Pascal Lamy reported in
late January that the standstill agreements had been largely respected,
with only a few examples of trade-distorting or limiting measures
5. The CBI is the UK's leading business organisation, speaking
for some 240,000 businesses that together employ around a third of the
private sector workforce. With offices across the UK as well as in
Brussels, Washington and Beijing, the CBI coordinates British business
representation around the world.
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Article Published/Sorted/Amended on Scopulus 2009-03-07 13:04:05 in Business Articles