What is the B7?
The United States Chamber of Commerce launched the B7 in 2007 as the business counterpart to the Group of 7 (G7), and it is the only business stakeholder group recognized by G7 governments. Comprised of the leading business organizations of the G7 nations, the B7 provides the private sector a vehicle for input and strong business voice on G7 economic initiatives.
Each year, the business federation from the G7 host country takes the lead on organizing the B7 summit. As Japan holds the G7 presidency in 2023, the Japan Business Federation (Keidanren) will host this year’s B7 meeting in Tokyo. In these meetings, the B7 will press the G7 to adopt strong pro-growth policies in three key areas: sustainable economic growth, inclusion of the Global South, and promoting unity among G7 countries. Following the discussions, the B7 will present the Prime Minister of Japan with a joint statement on business priorities. The statement will be released on April 20, 2023.
Why does it matter?
“The G7 has gained relevance as the prime place for coordinating joint policy responses by like-minded economies to the biggest challenges of the day,” said Gary Litman, Senior Vice President of Global Initiatives at the U.S. Chamber of Commerce. “We are encouraged by the growing openness of the G7 to input from the U.S. business community throughout the process.”
The B7 is also key as a forum for businesses to compare notes on shared challenges like rising inflation, emerging trade barriers, supply chain diversification, the energy transition, digital transformation, and relations with emerging markets. By taking part in the B7 Summit, the U.S. Chamber delivers key policy messages to the G7 Presidency and coordinates global business advocacy with our peers in Canada, Europe, and Japan.
Who is going?
- David Goeckeler, CEO of Western Digital and Vice Chair of the U.S.-Japan Business Council Board of Directors
- John L. Hopkins, CEO of NuScale Power Corp. and a U.S. Chamber of Commerce Board member
- Dr. Vivek Lall, Chief Executive of General Atomics Global Corporation and U.S.-Japan Business Council Board member
- Gary Litman, Senior Vice President of Global Initiatives at the U.S. Chamber of Commerce
- Tomoko Hosaka Mullaney, Executive Director of the U.S.-Japan Business Council at the U.S. Chamber of Commerce