UK government announces talks on global recovery
Business Secretary Peter Mandelson will bring together business leaders to map out the path to recovery
At a G20 Business Conference in Downing Street later this month, the Business Secretary 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.
Announcing the Conference, Lord Mandelson said: “The global banking crisis that has buffeted businesses around the globe won't be reversed without a coordinated international plan of action. The reality is that we now live in a globalised world, where the smallest family-run business in Britain can feel the impacts of decisions made by corporations and governments across the globe.”
Lord Mandelson went on to explain the need to be realistic about the global challenges that exist for business and to “face them head on. Only with a clear agenda for recovery will our businesses emerge stronger and, as a result, ready to take on the environmental and economic challenges of the 21st century world”.
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 18 March.
Martin Broughton, president of the CBI, said: “This 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. We look forward to welcoming our international counterparts to this summit and ensuring that together we can help shape and inform the G20's agenda in April.”
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 2 April.
The Conference 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 Organisation's Doha Development Agenda
• The decline in availability and increasing cost of trade finance