Seoul G20 Business Summit

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

Lee Myung-bak, President of Korea; Rajat Gupta, Chairman, ICC; and Young-tae Kim, Chairman, ICC Korea, prioritized a number of global business views and pledged continued engagement in the G20 process at a private meeting in the president's office. 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 to feed the organization's views and expertise into the G20 process. Mr Gupta pledged to carry forward the good work initiated in Seoul.

Roundtable discussion

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Victor K. Fung, Honorary Chairman, ICC led the roundtable discussion with Naoto Kan, Prime Minister of Japan 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.

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Terry McGraw, Chairman, United States Council of International Business (USCIB) also participated in the roundtable where he called for trade liberalization and the conclusion of the Doha Round.

ICC leaders bridged the gap between business and government, moderating three sessions on corporate social responsibility with Recep Tayyip Erdogan, Prime Minister of Turkey and Jose Manuel Barroso, President of the European Commission.

Seoul Summit paritcipants

Stephen Green, Vice Chairman, ICC emphasized the importance of small- and medium-sized enterprises (SMEs) with Dmitry Medvedev, Russian President. Mr Green 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.

Marcus Wallenberg, Former Chairman, ICC addressed the challenge of investment in infrastructure and natural resources with Julia Gillard, Prime Minister of Australia. 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.

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Mr Wallenberg and David Cameron, Prime Minister of the United Kingdom shared the stage during the closing plenary session of the Business Summit.

Young-tae Kim, Chairman, ICC Korea and Chairman, Daesung joined the ICC Chairman in a meeting with President Lee and addressed the media during the ICC press conference on 10 November 2010.

Media coverage

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 – Rajat Gupta, ICC Chairman and Senior Partner Emeritus of McKinsey & Company; Stephen Green, Vice-Chairman, ICC and Chairman, HSBC Group; and Victor K. Fung, Honorary Chairman, ICC and Li & Fung Group. They were joined by Marcus Wallenberg, past ICC Chairman and Chairman, SEB; Young-tae Kim, Chairman, ICC Korea and Chairman, Daesung; and Jean-Guy Carrier, Secretary General, ICC.

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.

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.

Press releases

ICC welcomes G20 pledge to complete Doha Round by 2011

ICC welcomes G20 pledge to complete Doha Round by 2011

The International Chamber of Commerce (ICC) welcomes the commitment of the Seoul G20 Summit to complete the Doha Round by 2011 and other measures to ensure that trade can make a meaningful... Read more

ICC leaders meet Korean President ahead of G20 Summit

ICC leaders meet Korean President ahead of G20 Summit

The G20 Summit in Seoul should resist protectionism and economic nationalism, restore trade finance to more normal levels and strengthen multilateral cooperation to improve the health of the global... Read more

ICC Honorary Chairman in Seoul shares business views ahead of G20 summit

ICC Honorary Chairman in Seoul shares business views ahead of G20 summit

Addressing a plenary session of Asia 21, the Korea Ministry of Finance/International Monetary Fund (IMF) conference in Seoul this week, ICC Honorary Chairman Victor Fung told the audience that “Asia... Read more