Berlin, 26 February 2013

The ICC G20 CEO Advisory Group met with business leaders and government officials for a policy consultation on 26 February 2013 in Berlin, Germany.

This event is part of a series of meetings the ICC G20 CEO Advisory Group has held since June 2011. Global consultations give local businesses the opportunity to be heard and to channel their priorities into the G20 process ahead of each Summit.

Agenda

ICC G20 Advisory Group, Berlin, 2013

Co-hosts Manfred Gentz, Chairman of ICC Germany and H.E. Vladimir M. Grinin, Ambassador of the Russian Federation welcomed participants to the consultation. Trade, investment and job creation were major policy topics for discussion, mirroring the work of three of the six Russian task forces.

Pavel Chernyshov, representing Russian views, gave a keynote speech on the importance of the continuity of policy development, while introducing two new issues: 1) The stability of sovereign debt to contribute to fiscal consolidation and economic confidence, and 2) The ensurance of long-term funding of investment, which he said was a joint task for business and government.

The German viewpoint was offered by Lars-Hendrick Röller in a keynote speech that gave an outline of Germany's priorities in the G20 context, and focused on the issues identified by the Business-20 process. Mr Röller said that Germany would be keenly interested in the B20 recommendations on finance, and on financing for investment, in order to set the right framework to maximize the contribution of private investment.

Following the keynote speeches, Stefano Bertasi, Executive Director, ICC Department of Policy and Business Practices introduced the discussion on trade, investment and infrastructure, and the G20's role in job creation, after which participants contributed views. Input from the discussion was moderated by Jean-Guy Carrier, ICC Secretary General.

Participants

ICC G20 Advisory Group in Berlin

The Berlin global consultation brought together approximately 70 representatives derived from the following: businesses primarily in Germany but also notably Russia and Turkey among others; embassies including Australia, Brazil, China, France, India, Mexico, United Kingdom and the United States; and ICC National Committees including ICC Finland, ICC Greece, ICC Sweden and ICC Italy.

Key speakers included: Dr Lars-Henrik Röller, Director General, Economic and Financial Policy Division of the German Federal Chancellery Previous and German G8/G20 "Sherpa"; Manfred Gentz, former Chairman of the Board of Directors, Zurich Financial Services and Chairman, ICC Germany; H.E. Vladimir M. Grinin, Russian Ambassador to Germany; Pavel Chernyshov, Director, International Financial Markets, Ministry of Finance; Bernhard Welschke, Managing Director, North and Latin America, and Global Governance, BDI (Federation of German Indstries); Wilfred Steinheuer, Director for International Monetary and Financial Policy, Federal Ministry of Finance, Germany; Jean-Guy Carrier, ICC Secretary General; Stefano Bertasi, Executive Director, ICC Department of Policy and Business Practices.

Outcomes

Berlin global consultation

Results from the consultation will be fed into the business recommendations that are being produced in advance of the G20 Leaders Summit to be held in Saint Petersburg on 5-6 September 2013. The primary business input into the G20 process is being orchestrated by Alexander Shokhin, President of the Russian Union of Industrialists and Entrepreneurs (RSPP), who has been appointed by Russian Present Vladimir Putin to lead business policy task forces during the Russian G20 cycle.

The key outcomes of the policy discussion are as follows:

  • Small- and medium-sized enterprises (SMEs) are important for creating growth and employment. The Business-20 could facilitate the G20 on the financing of SMEs through long-term investments and their capacity to trade. This would have positive impacts, as would taking into account their limted capacity to absorb and implement new regulation. This is especially true in developing countries.
  • Under the Russian Presidency, progress should be sought on rebalancing the IMF quotas, mid-term fiscal targets, Basel 3, and credit rating agencies.
  • A systemic approach to infrastructure investment projects and public-private partnerships would make them more effective and would stimulate investment in infrastructure, having a positive impact on growth and job creation.
  • Key elements of the Doha Agenda should be moved forward and bilateral and regional trade agreements should be negotiated with a view to being integrated into the multilateral trading system. Further, bilateral and regional trade agreements should be complementary to the multilateral trading system rather than substitutes to avoid additional costs and distortions to international trade.
  • Focus should be on implementation of existing commitments and business should monitor G20 outcomes. An abundance of excellent policy recommendations are already in existence, but have been stalled due to poor implementation and/or monitoring. Key areas include: implementation of financial regulation to foster economic integration and stability that could be monitored by an intergovernmental organization to safeguard the stability of the international financial system, the implementation of the Los Cabos B20 recommendations on anticorruption, and monitoring the short-term and long-term interaction between rules relating to the dynamics of the international financial architecture.
  • Transparency and disclosure should be improved in order to decrease fragmentation of the global financial system.

Media coverage

Berlin policy consultation

Directly following the consultation, Mr Carrier, Mr Gentz and Mr Grinin participated in a media briefing.

Selected quotes

"The member companies of ICC are the everyday practitioners of the global economy and, consequently, have a clear stake in the success of the G20. Our objective today was to give these voices an opportunity to be heard and to be relevant to the global policy debates that ultimately impact their commercial opportunities, investments and trade."

Manfred Gentz, Chairman, ICC Germany

"We are pleased to be working with RSPP and the B20 coalition of national business federations this year to ensure that G20 deliberations reflect the voice of business. The results from this policy consultation will be conveyed to the respective B20 task force leaders in Moscow so as to ensure that business recommendations reflect the broad base of companies large and small."

Jean-Guy Carrier, ICC Secretary General

Press release

Berlin gate

ICC seeks business input to G20 agenda

The International Chamber of Commerce (ICC) today met with business leaders and government officials in Berlin to set business priorities – based on challenges faced by large and small companies... Read more