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| ICC Research Foundation unveils results of trade studies | |
| |  | | | | | |  | | |  | | | | | The CEO Forum is taking place in New Delhi
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Against the background of the worst global economic recession in living memory, ICC’s Regional CEO Forum, entitled “Globalization and Inclusive Growth”, brought together thought leaders from business, government and academia to engage in interactive discussions on the prospects for recovery, the lessons that have been learned from the crisis, and the resulting policy changes affecting business that governments are preparing.
The Forum was also the occasion for the ICC Research Foundation to present the findings of the three projects it commissioned this year. Project leaders from the World Trade Organization, Harvard Business School, and the Swiss-based IMD global business school introduced and led discussions on: trade and employment, the future of market capitalism, and rethinking sustainable growth.
A highlight of today’s afternoon session was an address by India’s Finance Minister, Pranab Mukherjee, who spoke about the relative stability of the Indian economy during 2009.
“Though our growth rate dipped a little, we weathered the global financial crisis well,” said Mr Mukherjee. “I have always viewed inclusive growth as an end in itself,” he added.
Speaking in his opening address about rising unemployment and increasing poverty around the world, Victor K. Fung, Chairman of the International Chamber of Commerce and Group Chairman of Li & Fung Group, said: “We can expect the social dislocations that have come about as a result of the Great Recession to be with us for some time. And with unemployment comes the increasing threat of protectionism.”
“This is why it is all the more crucial for governments – and indeed all of us – to do everything we can to get economic growth going again,” continued Mr Fung. “We must ensure that international trade, the lifeblood of the world economy, flows smoothly – unhampered by economic nationalism and other forms of protectionism. ICC has been playing and will continue to play an important role in fighting against protectionism in all fora, including at the G20 where we have been particularly active as an interlocutor for business.”
Government dignitaries who addressed the participants also included Kapil Sibal, Union Minister for Human Resource Development, and Chakravarthi Rangarajan, Chairman of the Prime Minister’s Economic Advisory Council. Tomorrow, senior members of Parliament, government officials and business leaders will take part in a special session devoted to the evolution of the Indian economy and the potential for doing business in India in the light of the country's recent general election and formation of a new government.
The Forum also marked the culmination of ICC’s 90th anniversary celebrations, which began in February in Geneva with the launch of the ICC Research Foundation as a way to further strengthen ICC’s thought leadership. Anniversary events were also held in Paris, Kuala Lumpur, and New York, including a special celebration at the United Nations, with which ICC has closely collaborated since its founding.
The two-day Forum was organized by ICC India and the Federation of Indian Chambers of Commerce and Industry (FICCI), with participation of over 100 corporate chairmen and CEOs from Asia, the Middle East, Europe, North America, and India.
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