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Global business leaders involved in this initiative aimed
to define multilateral trade negotiation priorities for business, and to help
governments set a trade policy agenda for the 21st century that contributes
to economic growth and job creation.
“It is
crucial that governments work directly with the global business community to
find answers to the current economic crisis,” said ICC Chairman Gerard Worms. “Opening trade and
investment offers a stimulus to the global economy and would give business
the clear sign that governments will not resort to protectionism.”
For the
first time in 60 years, the multilateral trade negotiation process is at a
standstill, and after 10 years, the Doha Development Agenda has reached a
stalemate. Yet global trade remains a mainstay of the world economy and it is
therefore crucial that global trade rules address the needs of the global
marketplace.
“Business is especially troubled by the threat of increased protectionism
from the world’s major economies. During this economic crisis, governments
should be opening markets to stimulate their economies rather than putting up
barriers to trade,” Victor K. Fung,
chairman of the ICC Business World Trade Agenda initiative and honorary
chairman of ICC said.
ICC launched in December 2011 the Business World Trade Agenda at the WTO
Ministerial Conference in Geneva, answering the call from G20 leaders at the
recent Summit in Cannes for new approaches to trade negotiations. ICC is
bolstered by the support it has received from the WTO in engaging business to
provide recommendations to advance global trade negotiations.
Read more on ICC’s website.
Staff Contact: Rob Mulligan
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on USCIB’s Trade & Investment Committee
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