International Chamber of Commerce (ICC) and USCIB Chairman Terry McGraw joined global business leaders at a B20 meeting in Washington, D.C. and urged the private sector to intensify engagement with the G20 to promote international trade and investment.
Presided by B20 China Sherpa Yu Ping, the B20 Joint Task Force meeting was held on the margins of the Spring Meetings of the International Monetary Fund (IMF) and the World Bank Group and in the lead up to the G20 Summit in Hangzhou, China next September.
Leading an ICC delegation of 40 CEOs from major multinational corporations, McGraw said: “We need more cooperation by the G20 to reignite world economic growth. That means that G20 leaders need to make trade and investment central to their growth agendas, making investments easier, reducing red-tape and cutting the cost of doing business.”
Zhu Min, IMF Deputy Managing Director stressed that structural reform must be a top priority for the G20 this year: “It’s absolutely important to bring the private sector into this global debate. In this critical junction, while we are facing global challenges and uncertainties, the private sector once again will play a pivotal and key role to stabilize world economic growth, financial markets, to push for growth and bring the world into the next high level.”