The International Chamber of Commerce welcomed the affirmation of the G20’s long-established stance to continue fighting all forms of protectionism.
“G20 must stand firm on keeping markets open to trade and investment,” ICC G20 Advisory Group Chairman, Marcus Wallenberg, said following the release of the G20 Hamburg Summit communiqué.
“We’ve been clear in recent months that G20 must stand firm on keeping markets open to trade and investment. We welcome that the Hamburg Summit has succeeded in maintaining the G20’s long-established stance to continue the fight against protectionism in all its forms,” he said in a press statement.
“Business and industry worldwide now wish that G20 leaders put words into action. We have often seen a divide between summit commitments and implementation when it comes to trade. Newly introduced concepts should not become a pretext for protectionism. With the outlook for global growth uncertain there is no room for the G20 to fall short of its commitment to keep markets open.”
ICC Secretary General John Danilovich, for his part, commended “the G20’s focus on strengthening the multilateral trading system. A strong, rules-based trading system is a pre-requisite to achieve the G20 leaders’ laudable ambition of making globalization work for all.
“We welcome the focus of the Hamburg communiqué on maximising the potential of digitisation and e-commerce as a force for inclusive growth. With the right global policies in place there is an opportunity to ensure that all companies—regardless of size, sector or location—can benefit from equal access to international markets. Establishing global rules for e-commerce must be a central objective for the World Trade Organization’s next Ministerial Conference in December.”