B20 Coalition Stands by G20 in Tackling Global Economic Challenges

WASHINGTON, D.C.—The B20 Coalition, recently launched by the U.S. Chamber of Commerce and fourteen other business organizations from around the world, today called on the G20 to live up to its promise to tackle global economic challenges and voiced its commitment to support these efforts, ahead of the start of the Russian presidency of the G20 on December 1, 2012.   On December 12, the Chamber will lead a delegation of U.S. businesses to the first presentation of Russia’s G20 priorities to the private sector  to advocate for a sharper G20 focus on boosting  economic growth around the world.

“The B20 Coalition was formed to provide a global voice for business, and highlight how decisions made by policy makers affect the ways in which global businesses compete, invest, grow or fail,” said Gary Litman, the U.S. Chamber’s vice president for International Strategic Initiatives.  “Today’s global marketplace requires an alignment of economic policies and regulatory framework that will promote global economic growth and prosperity.  The B20 Coalition will continue to work with the G20 to advance policies that will boost job creation and highlight the real world impact of actions taken by global leaders and regulators on the global economy.”

“We share the G20 ambition of ensuring a balance between growth and stability,” said Alexander Shokhin, President of Russian Union of Industrialists and Entrepreneurs. “Private sector growth and global prosperity require a coordination of national economic policies to support growth, stable capital and commodity markets, compatible financial regulation, an effective International Monetary System, open trade, freedom and protection of investments. In today’s global economic environment, we need to restore business confidence and macroeconomic stability that enable growth and job creation in the private sector.”

The objective of the B20 Coalition is to advocate for policies, at national, regional and international levels, that contribute to global growth and job creation. The coalition will use its vast membership base – representing the interests of more than 6.5 million businesses – to act as a global sounding board and an initiator of new ideas and proposals for G20 economic policy coordination.

Headquartered in Paris, the B20 Coalition will meet in Moscow, Russia, in December, under the chairmanship of the Russian Union of Industrialists and Entrepreneurs (RSPP) in preparation for the St-Petersburg G20 Summit to be held on September 5-6, 2013.

About the B20 Coalition
The B20 Coalition represents the interests of companies of all sizes and sectors in the G20 process and ensures through this legitimacy the follow up of business recommendations in between G20 annual summits.

Follow the B20 Coalition’s initiatives on Twitter @B20Coalition.

About the B20 Coalition members
AIG, Australia – BDI, Germany – BUSA, South Africa – BUSINESSEUROPE, Europe – Canadian Chamber of Commerce, Canada – CEOE, Spain – CII, India – CNI, Brazil – Confindustria, Italy – FKI, South Korea – MEDEF, France – RSPP, Russia – TÜSİAD, Turkey – UIA, Argentina – U.S. Chamber of Commerce, United States

The U.S. Chamber of Commerce is the world’s largest business federation representing the interests of more than 3 million businesses of all sizes, sectors, and regions, as well as state and local chambers and industry associations.