PRESS RELEASE: B20 Coalition stands by G20 in tackling global economic challenges

Paris, November 27, 2012 – The largest national business organizations from the G20 countries recently launched the B20 Coalition in order to ensure the voice of business is heard. The Coalition calls on G20 to live up to its promise to tackle the crisis and is committed to support these efforts.

We share the G20 ambition of ensuring a balance between growth and stability. 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.” said Alexander Shokhin, President of the Russian Union of Industrialists and Entrepreneurs (RSPP) representing the B20 Coalition in Russia.

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 B20 can use its vast membership base – representing 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, on December 12, 2012, under the chairmanship of RSPP, to prepare 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