The G20 Business Summit London, 18 March 2009 Rhian Chilcott, CBI
The G20: the basics <ul><li>Created in 1999 </li></ul><ul><li>Originally just finance ministers and central bankers of the...
Members of the G20 <ul><li>Argentina </li></ul><ul><li>Australia </li></ul><ul><li>Brazil </li></ul><ul><li>Canada </li></...
Members of the G20: <ul><li>... Plus MD of the IMF, President of the World Bank, chairmen of key committees of those insti...
The Business Summit <ul><li>UK government requested the CBI to arrange a business summit before 2 April G20 meeting </li><...
Outcome: an extraordinary degree of consensus <ul><li>A rapid conclusion to the Doha trade round  </li></ul><ul><li>A lega...
Additional conversations at the meeting: <ul><li>Fiscal stimulus </li></ul><ul><li>Exit strategy </li></ul><ul><li>Financi...
Next steps <ul><li>The Prime Minister’s comments substantially echoed the business community’s agenda </li></ul><ul><li>Lo...
What to expect from the main G20 meeting? <ul><li>Four main workstreams: </li></ul><ul><li>The macrofinancial response </l...
Next steps? <ul><li>Country-by-country lobbying in the remaining two weeks before the London Summit </li></ul><ul><li>Is t...
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G20 Business Summit Summary

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G20 Business Summit Summary

  1. 1. The G20 Business Summit London, 18 March 2009 Rhian Chilcott, CBI
  2. 2. The G20: the basics <ul><li>Created in 1999 </li></ul><ul><li>Originally just finance ministers and central bankers of the 20 countries </li></ul><ul><li>November 2008: President Bush convened G20 heads of government in Washington, D.C. </li></ul><ul><li>UK has the chair for 2009; South Korea will have the chair in 2010. </li></ul>
  3. 3. Members of the G20 <ul><li>Argentina </li></ul><ul><li>Australia </li></ul><ul><li>Brazil </li></ul><ul><li>Canada </li></ul><ul><li>China </li></ul><ul><li>France </li></ul><ul><li>Germany </li></ul><ul><li>India </li></ul><ul><li>Indonesia </li></ul><ul><li>Italy </li></ul><ul><li>Japan </li></ul><ul><li>Mexico </li></ul><ul><li>Russia </li></ul><ul><li>Saudi Arabia </li></ul><ul><li>South Africa </li></ul><ul><li>South Korea </li></ul><ul><li>Turkey </li></ul><ul><li>United Kingdom </li></ul><ul><li>United States </li></ul><ul><li>European Union... </li></ul>
  4. 4. Members of the G20: <ul><li>... Plus MD of the IMF, President of the World Bank, chairmen of key committees of those institutions. </li></ul><ul><li>Useful resources: </li></ul><ul><li>www.g20.utoronto.ca </li></ul><ul><li>www.londonsummit.gov.uk </li></ul>
  5. 5. The Business Summit <ul><li>UK government requested the CBI to arrange a business summit before 2 April G20 meeting </li></ul><ul><li>1 representative from each of the 20+4 countries </li></ul><ul><li>Someone who was from a trade association (i.e. representative) but in a non-executive role (i.e. with genuine business experience) </li></ul><ul><li>Focus on trade and investment protectionism </li></ul>
  6. 6. Outcome: an extraordinary degree of consensus <ul><li>A rapid conclusion to the Doha trade round </li></ul><ul><li>A legally-binding standstill commitment not to raise new barriers – broadly defined </li></ul><ul><li>An effective monitoring body with real teeth </li></ul><ul><li>To ensure that trade finance and credit gets moving again </li></ul><ul><li>To ensure a maximum economic stimulus effect from high surplus countries. </li></ul>
  7. 7. Additional conversations at the meeting: <ul><li>Fiscal stimulus </li></ul><ul><li>Exit strategy </li></ul><ul><li>Financial regulatory reform </li></ul><ul><li>Progress report on the actions from November </li></ul>
  8. 8. Next steps <ul><li>The Prime Minister’s comments substantially echoed the business community’s agenda </li></ul><ul><li>Lord Mandelson & CBI issued a joint press release </li></ul><ul><li>Report will be available by end of next week </li></ul><ul><li>Each association decides what to do in terms of lobbying their home state government </li></ul>
  9. 9. What to expect from the main G20 meeting? <ul><li>Four main workstreams: </li></ul><ul><li>The macrofinancial response </li></ul><ul><li>The role of the multilateral institutions </li></ul><ul><li>Reshaping the global financial system </li></ul><ul><li>Putting the world economy on track for sustainable growth </li></ul>
  10. 10. Next steps? <ul><li>Country-by-country lobbying in the remaining two weeks before the London Summit </li></ul><ul><li>Is the G20 the new G8? </li></ul>

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