U.S. Chamber's Donohue Joins G-8 Business Leaders in Offering Solutions to Economic Crisis

U.S. Chamber's Donohue Joins G-8 Business Leaders in Offering Solutions to Economic Crisis

Stimulus Measures Necessary, Along with Expanded Trade Deals;

Business is the Key to Growth

PARIS, FRANCE—Representing the American business community at the G-8 Summit of Business Leaders in Paris today, Thomas J. Donohue, president and CEO of the U.S. Chamber of Commerce, joined nine other business leaders in issuing recommendations to G-20 leaders on strengthening the global economy. Along with a comprehensive set of recommendations, the statement issued by the business leaders said:

"The causes of the financial and economic crisis we find ourselves in are multiple. The present crisis does not call into question the basic principles of the open market economy but calls for urgent responses mainly in technical and regulatory terms.

"It is business and only business which has the capacity to extricate our economies from recession by continuing to produce, invest, export, do research and development, train and develop their workforces. By continuing to demonstrate ambition and dynamism, they are preparing already to get out of the crisis.

"We support the need for monetary and fiscal stimulus measures to fend off major downturn forces. We also call for a swift conclusion to the WTO accession negotiations and the Doha Development Agenda on an ambitious and balanced basis.

"We fully support the G-20 declaration at the Washington Summit and offer our contribution to international bodies that play a key role in the global economy."

The complete set of recommendations is available at www.uschamber.comhttp://www.uschamber.com/publications/reports/081203_g8businesssummit.htm

The U.S. Chamber is the world's largest business federation representing more than 3 million businesses and organizations of every size, sector, and region.

# # #