ICC Chairman Terry McGraw tells CNBC strong G20 agenda holds promise for progress
- Brisbane, 14 November 2014
Speaking live from the G20 Summit that gets underway tomorrow in Brisbane, Australia, ICC Chairman Terry McGraw expressed confidence that the gathering of world leaders would result in actionable policy for global growth and job creation.
Mr McGraw told CNBC anchor Oriel Morrison that while the G20 was born during financial crisis, it was now seeing a shift from crisis mode to global governance mode.
“Now there is talk about needing higher growth, job creation, prosperity, expanding the middle class and about more small- and medium-sized enterprises – where entrepreneurship and creativity come from,” he said. “We do not want to conclude the G20 without actionable programmes and items.”
Responding to a question on recent breakthroughs in multilateral trade negotiations, Mr McGraw underscored the potential of the World Trade Organization’s Trade Facilitation Agreement to inject a much needed stimulus into the global economy and create millions of jobs, the large majority of which would be in developing countries.
During the CNBC interview, which took place shortly after an official ICC media briefing at the G20 International Media Centre, Mr McGraw said backing of the TFA was a priority outcome business expected to see from the Summit.
Peder Holk Nielsen, a member of the ICC G20 CEO Advisory Group and President and CEO of Novozymes also spoke with CNBC, saying that B20 members would continue to promote economic growth policies to G20 leaders. Stressing that business leaders remained engaged to help political leaders come out of Brisbane with “the right deal”.
“Growth is essential to the changes we have to make both as business leaders and for the countries we live in. It is also a prerequisite for political security,” he said.
Mr McGraw and Mr Nielsen both commended the leadership of the B20 and the Australian government for driving a focused agenda for G20 leaders to act upon.
Mr McGraw’s interview with CNBC took place as part of a media outreach agenda which included interviews with print and broadcast media such as Bloomberg, Sky News and ABC Australia.
Watch Peder Holk Nielsen's interview on CNBC at the G20 Summit
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