Business leaders to gather in London to find way out of recession
Business leaders from the world's advanced and emerging economies will gather in London to map out the challenges to international business on the path to recovery, British Business Secretary Peter Mandelson announced here on Thursday, Xinhua reported.
At a G20 Business Conference in Downing Street later this month, Mandelson will seek to gauge how the interventions by international governments in the downturn are impacting on global business, and set out a clear agenda to overcome the remaining obstacles to trade.
Mandelson said: "The global banking crisis that has buffeted businesses around the globe won't be reversed without a coordinated international plan of action."
He said that the reality is that we now live in a globalized world, where the smallest family run business in Britain can feel the impacts of decisions made by corporations and governments across the globe.
Business representatives from across the world's advanced and emerging economies, including the G20, have been invited to attend the Conference, which is being held in partnership with the Confederation of British Industry (CBI) on Wednesday March 18.
Martin Broughton, President of the CBI, said, that the summit will provide a genuine forum for open and honest debate and for a wide variety of views to be aired on the key challenges impacting on day-to-day business operations around the world.
"At the top of the agenda will be issues, such as protectionism and trade finance, and how to create the conditions that are needed for global business to prosper in the future," he said.
Prime Minister Gordon Brown, who will attend the later stages of the conference, will formally feed in the points raised into the London Summit of G20 leaders on April 2nd.
The Conference is intended to be a genuine listening process, but the agenda is expected to consider: the possibility of strengthening the nature of the G20 commitment to reject protectionism, previously outlined in Washington; the government interventions that have been effective in advanced and emerging countries; the obstacles to agreement on the World Trade Organization's Doha Development Agenda; and the decline in availability and increasing cost of trade finance.