Business leaders rethink global economic recovery | The Daily Star
12:00 AM, September 26, 2011 / LAST MODIFIED: 12:00 AM, September 26, 2011

Business leaders rethink global economic recovery

The ICC G20 Advisory Group consulted with the chief executives of leading regional and global companies to deliver business input on economic growth and job creation to G20 leaders, ICC said in a statement yesterday.
The advisory group is an initiative of the International Chamber of Commerce (ICC). The round-table brought together chief executive officers of leading companies from Bangladesh, India, Hong Kong, Singapore, Taiwan, Indonesia and France.
The roundtable in Hong Kong on September 22-23 was hosted by ICC Honorary Chairman Victor K Fung, who is also the chairman of Li & Fung Group, the statement added. Outcomes of the discussions will form a basis for business views being brought to the G20 Summit, November 3-4.
“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 make 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.”
ICC Bangladesh President Mahbubur Rahman while endorsing the draft presented by the ICC G20 Advisory Group suggested a few additional points for consideration and inclusion in the policy recommendations.
Rahman said 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. "They should be given duty-free market access for all their exports to developed and developing countries."
“Trade will play a key role in tackling the jobs crisis,” said ICC Secretary General Carrier. “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.”
The other members of the delegation, who atten-ded the consultation, are Latifur Rahman, vice president of ICC Bangladesh, and chairman and managing director of Transcom; Syed Manzur Elahi, chairman of Apex Adelchi Footwear; and Amjad Khan Chowdhury, president of Metropolitan Chamber of Commerce and Industry, and CEO of PRAN-RFL.

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