ANTALYA, TURKEY 15 November
A delegation of leading CEOs met with heads of government today at the outset 2015 G20 leaders’ summit. The CEO group, drawn from across the G20 economies, appealed for new commitments to kick-start the global economy for the benefit of all—against a backdrop of sluggish GDP growth and falling tradeflows.
The business leaders called for action to support trade, investment, and employment and SME growth— drawing on a series of recommendations developed by the global business community under the 2015 Turkish B20 presidency.
Among the B20 priorities conveyed during the meeting were calls to:
Ratify and implement the World Trade Organization’s Trade Facilitation Agreement (TFA)—which new research suggests could boost global trade flows by an unprecedented US$3 trillion;
Roll back protectionist trade policies, especially non-tariff barriers starting with localization barriers to trade;
Take concrete action to increase youth and women participation in the labour force—including by developing national skills strategies, ramping up counseling programmes, on-the-job training, apprenticeships, and placement-service programmes;
Establish country-specific infrastructure strategies to boost investment in much-needed infrastructure projects worldwide;
Improve SME access to finance to unlock the potential of the world’s small businesses to contribute to global growth and employment. There is, for example, and estimated US$1.4 trillion shortfall of trade finance for SMEs according to the Asian Development Bank.
Strengthen institutional mechanisms for financial regulatory cooperation between regulators and all key public and private-sector stakeholders.
Rifat Hisarcıklıoğlu, B20 Turkey Chair and President of the Union of Chambers and Commodity Exchanges of Turkey said: “We were pleased with the G20 leaders’ responsiveness to the business recommendations. The B20 is an important complement to the G20 mission for sustainable global growth, and our CEOs provide valuable day-to-day practical experience on key areas where the G20 can make meaningful progress.”
Muhtar Kent, Chairman and Chief Executive Officer of The Coca-Cola Company and Chair of the International Business Advisory Council to the Turkish G20/B20 Presidency said: “Global economic growth and job creation has to be priority No. 1 for businesses, governments and civil society institutions, and this can only be accomplished through rigorous cooperation and accountability among these three prongs of the Golden Triangle.” said
Mr. Kent added: “To this end, in 2015, we have provided robust recommendations to G20 governments that will jump start growth through policy reforms in trade, employment, SMEs and infrastructure. We’ve also increased the dialogue among G20 governments and business representatives so that policy reforms unlock new investment and allow us to rise above the status quo and deliver increased economic opportunity for women, young people and families around the world.”
This year, the Union of Chambers and Commodity Exchanges of Turkey (TOBB) and the International Chamber of Commerce (ICC) established the World SME Forum to advocate the interests of global SMEs under the inclusivity scope of B20 Turkey. The Forum, in line with the recommendations of the newly established SMEs and Entrepreneurship Taskforce will take advocacy efforts up to a whole new level.
Since 2010 the B20 has put forward recommendations to the G20 annually, many of which have translated into important G20 commitments to support private-sector led growth following the financial crisis.
To that end, “Regulations must focus on growth and not just financial stability,” said the Chairman& CEO of BBVA, Francisco González. “We recommend the G20 leaders to pause in order to assess the whole picture and the cumulative impact of the reforms as well as to recalibrate accordingly if necessary to better allow the financial industry to support growth.”
Sunil Bharti Mittal, Founder and Chairman of Bharti Enterprises and First Vice Chairman of the International Chamber of Commerce said: “Today marked the sixth consecutive meeting of international CEOs and G20 heads of government. The objective of our direct dialogue is to provide substantive commercial guidance to G20 leaders in the laudable efforts to support growth, jobs and opportunity for all.”
A key year for global policymaking
This year’s G20 is one of a series of major international summits aimed at forging a more sustainable and prosperous future for the global community. In addition to G20-specific policy recommendations, the B20 CEOs called on the G20 to provide the leadership necessary to further progress in ongoing negotiations in key intergovernmental forums.
Commenting on the recently launched UN Sustainable Development Goals (SDGs), John Danilovich, Secretary General of the International Chamber of Commerce said: “It is clear that effective implementation of the SDGs will require widespread business engagement. Many businesses are already playing a leading role in promoting sustainable development, but with the right support and incentives from government we can do much more. It’s vital that the G20 shows leadership in engaging the private sector to deliver on the promise of the SDGs.”
In just two weeks’ time world leaders will gather in Paris for the start of the landmark Paris Climate Conference (COP21). Gerard Mestrallet, Chairman and CEO of Engie and moderator of the Business Dialogue for COP21 said: “Organizations working with more than 6 million companies have made it clear that the business community wants to see an ambitious climate deal at COP21 in Paris this December. More leading companies and investors are taking climate action than ever before. The G20 must build on this momentum by sending a clear and unequivocal signal of their ambition for a successful outcome at COP21.”
In mid-December trade ministers will convene in Nairobi for the WTO’s 10 Minesterial Conference. Güler Sabancı, Coordinating Chair of B20 Turkey Trade Taskforce and Sabancı Holding said: “The world trade agenda is at a critically important juncture. Global trade flows dropped by an estimated six percent in the first half of 2015. Governments must commit to ambitious outcomes within the WTO to revitalize trade as a driver of growth and jobs. Implementation of the Trade Facilitation Agreement must be a starting point for this agenda.”
The G20 in 2016
We have high expectations that tomorrows G20 deliberations will reflect our recommendations to spur the macro-economic recovery, increase women and youth employment, reform financial regulation, expand trade, and intensify the role of small- and medium-sized enterprises said Yu Ping, who will serve as the Sherpa of B20 China. We will closely review the G20 communiqué and structure B20 Chinas work plan he said.
ANTALYA, TURKEY 15 November