This one-day business summit was a major milestone for the ICC World Trade Agenda initiative. It was held under the patronage of His Excellency Sheikh Hamad bin Jassim bin Jabr Al Thani, Prime Minister and Minister of Foreign Affairs, Qatar and brought together several hundred business leaders and trade experts from chambers of commerce, multinational and small- and medium-sized companies. Together they endorsed a set of World Trade Agenda business priorities that business believes would provide a debt-free stimulus to the global economy at a time when governments are struggling to inject growth into their economies.

The event presented a unique opportunity for participants from over 100 countries to take part in a high-level dialogue between business leaders and key policymakers on how to bolster rules-based trade that would create millions of new jobs.

Selected quotes

“ICC has consulted with business around the world to develop a set of practical steps for reaching a new trade consensus. As the actors of trade in the daily marketplace, we are well placed to shed new light on stalled talks. We will mobilize CEOs around the world to make the case to national governments for this new trade agenda.”

Terry McGraw, ICC Chairman, Paris

“The potential gains in terms of exports, jobs and GDP growth from multilateral trade liberalization are substantial. For these reasons, international business strongly encourages political leaders to steer clear of protectionism and nationalism – and return to building inclusive open trade to stimulate global recovery and growth for many years to come.”

Victor K Fung, Chairman, ICC World Trade Agenda Initiative; Chairman, Fung Group, Hong Kong

Media coverage

Main outcomes

• It is imperative that the WTO demonstrate its continued power as a forum for the negotiation of agreements that eliminate barriers to trade and uphold the rules governing international trade.
• Spekers agreed that the WTO’s 9^th Ministerial conference in December is a critical opportunity for the WTO to demonstrate that it can deliver negotiations.
• The top priority for the WTO is to finalize a trade facilitation agreement as a key deliverable in Bali. Such an agreement has the potential to promote economic growth, lower trade barriers in the global trade system, and raise living standards around the world.
• Global business will follow through – including by continually pressing the case for governments to act on the WTA recommendations in the run up to the Bali Ministerial.