The ICC G20 advisory group, an initiative of the International Chamber of Commerce (ICC), consulted with the chief executive officers of leading regional and global companies to deliver business input on economic growth and job creation to G20 leaders, according to ICC press release issued on Sunday. The roundtable in Hong Kong on September 22-23, was hosted by ICC chairman Victor K. Fung, who is also chairman of the Li & Fung group of companies.

Outcomes of the discussions will form a basis for business views being brought to the G20 Summit, on November 3-4, 2011.

“Recent events have shown the fragility of economic recovery and highlighted the need for forward-looking measures to support trade, global economic cooperation and job creation. Our focus on jobs is deliberate: every major economy is facing serious challenges in this area, whether due to
fiscal concerns, demographic change, or social integration,” Fung said.
“Business has an important contribution to the global recovery in terms of job creation. And a concerted ‘jobs agenda’ from global leaders would in turn do much to boost confidence in the business community,” he added.

ICC Bangladesh president Mahbubur Rahman suggested a few additional points for consideration and inclusion in the policy recommendations.

He mentioned the G-20 should recognise explicitly that there are some members of the global community, such as the Least Developed Countries (LDCs), who require support to enable them to benefit from the processes of globalisation and they should be given duty-free market access for all their exports to developed and developing countries.

With regard to encouraging green growth, Mahbubur Rahman suggested that the G20 leaders should recognise the countries that are now developed or in advanced stages of development did not worry about the consequences of their actions on the environment.

The present developing countries find development to be much more expensive when meeting the environmental standards and as such special measures are required to assist these countries with both funds and technology to enable them to meet the additional costs, he added.

“Trade will play a key role in tackling the jobs crisis,” said Jean-Guy Carrier, ICC secretary general.
“Economic growth depends largely on the capacity of G20 governments to improve the conditions for international trade and job creation, and business stands ready as a partner in this recovery,” he said.
The roundtable brought together CEOs of leading companies from Bangladesh, India, Hong Kong, Singapore, Taiwan, Indonesia and France.

The other members of the ICC Bangladesh delegation attended the consultation are—Latifur Rahman, vice-president of ICC Bangladesh and chairman and managing director of Transcom Ltd., Syed Manzur Elahi, chairman of Apex Adelchi Footwear Ltd. and Amjad Khan Chowdhury, president of Metropolitan Chamber of Commerce and Industry, Dhaka and CEO of PRAN-RFL Group.