The International Chamber of Commerce (ICC) played a leading role at the Seoul G20 Summit - emphasizing business priorities at the presidential level, leading dialogue with G20 heads of government, driving production of policy contributions, particularly in the areas of finance, trade and small and medium enterprises, and amplifying business messages to world media.
ICC Policy Recommendations
During a private meeting with Korean President Lee Myung-bak at his office, ICC Chairman Rajat Gupta and ICC Korea Chairman Young-tae Kim prioritized a number of global business views and pledged continued engagement in the G20 process. Mr Gupta urged the G20 leaders to resist protectionism and economic nationalism, restore trade finance to more normal levels and strengthen multilateral cooperation to improve the health of the global economy. President Lee said he shared those views and also intended to encourage other world leaders at the G20 Summit to bring the Doha Round of trade negotiations to a swift conclusion. Mr Gupta told Mr Lee that ICC appreciated the opportunity provided by the G20 Business Summit to feed its views and expertise into the G20 process and pledged to carry forward the good work initiated in Seoul.To read the full text of ICC’s recommendations to the G20 Summit.
ICC Honorary Chairman Victor K. Fung led the roundtable discussion with Japanese Prime Minister Naoto Kan on revitalizing world trade. Mr Fung stressed that trade is the lifeblood of the global economy and the world needs more of it at this critical moment, not less. He also called for continuing support for trade finance both multilaterally and by favourably regulating trade finance under Basel III.
Terry McGraw, Chairman of ICC’s national committee in the US, the United States Council for International Business (USCIB), also participated in the roundtable where he called for trade liberalization and the conclusion of the Doha Round.
ICC Chairman Rajat Gupta bridged the gap between business and government, moderating three sessions on Corporate Social Responsibility with Recep Tayyip Erdogan, Prime Minister of the Republic of Turkey and Jose Manuel Barroso, President of the European Commission.
ICC Vice Chairman Stephen Green emphasized the importance of SMEs with Russian President Dmitry Medvedev. He also called on Mr Medvedev to urge the G20 to facilitate the sustainable growth of SMEs by removing legal, regulatory and financial roadblocks, building capacity through government-sponsored SME support centres, promoting the value of intellectual property, and encouraging government-university-industry.
Former ICC Chairman Marcus Wallenberg addressed the challenge of investment in infrastructure and natural resources with Australian Prime Minister Julia Gillard. Mr Wallenberg pointed out that an estimated US$600 billion annual shortfall in project funding jeopardized the ability of infrastructure and natural resources to contribute to economic growth and social progress.
Young-tae Kim, Chairman of ICC Korea and Daesung Chairman joined the ICC Chairman in the meeting with President Lee and addressed the media during the ICC press conference on 10 November.
Marcus Wallenberg and British Prime Minister David Cameron shared the stage during the closing plenary session of the Business Summit.
Awareness Raising and Media
ICC leadership spoke to the world media on a variety of key topics, including trade, finance, investment and strengthening the ability of small- and medium-sized companies to contribute to economic growth and generate new jobs.
An ICC press conference attracted some 300+ global media outlets and featured a rare assembly of ICC’s full leadership – ICC Chairman and Senior Partner Emeritus of McKinsey & Company Rajat Gupta, ICC Vice-Chairman and HSBC Group Chairman Stephen Green and ICC Honorary Chairman and Li & Fung Group Chairman Victor K. Fung. They were joined by past ICC Chairman and SEB Chairman Marcus Wallenberg, ICC Korea Chairman and Daesung Chairman Young-tae Kim, and ICC Secretary General Jean-Guy Carrier.
ICC issued four press releases to world media – before, during and after the Summit.
Additionally, ICC leaders held a media conference and conducted dozens of one-on-one interviews. Stories appeared via the national and international press, radio and TV, including significant coverage in Korea and worldwide by the BBC World Service, BBC World News, Financial Times, Associated Press, The Korea Herald, KBS news, KTV news and others. All releases were shared with the ICC national committee network for publication in multiple languages, posted on the ICC website, and distributed electronically to over 7,450 news alert subscribers worldwide.
Resources for ICC members