In the past months, more than 1400 company and business associations’ representatives convened in this year’s B20 Process and worked on comprehensive policy recommendations. These recommendations focus on the most pressing issues for businesses, such as international trade, the global financial system and digital economy. During the B20 Summit in Buenos Aires on 4 and 5 of October, the B20 Recommendations will be handed over to the G20, aiming to anchor the expertise of businesses in the G20 Process.
In times of increasing protectionism and escalating trade conflicts in the political arena, the global business community is demonstrating unity in the B20 Process and its recommendations. It thus calls on the G20 to follow this example and to actively shape globalization and the global economy. "In a more and more interconnected world, national go-alones are not the solution to global challenges. The G20 is the most capable forum to tackle such challenges together, the G20 must take a united leadership role in the multilateral system," asserts Jürgen Heraeus, B20 Germany President and chairman of the board of the Heraeus Group.
The B20 Presidency rotates every year together with the chair of the G20 Presidency. Last year, under the German G20 Presidency, major disruptions in international politics became initially obvious. “We observed last year already that long-standing political principles were questioned and alliances were revoked. The G20 could not develop its full potential,” notes Mr. Heraeus. “Therefore, expectations for this year's process are very high.”
According to Mr. Heraeus, the international business community and the Argentine B20 Presidency have put substantial efforts into this year’s B20 Process. “The Argentine B20 Presidency has proven its full commitment to B20. I would like to congratulate the Presidency on their innovative and actionable recommendations.” During the Argentine B20 Presidency, business representatives elaborated on recommendations for economic, climate and financial policy issues. These recommendations are based on consensus within the B20 and will channel the business community’s expertise into the G20 Process.
“It is the G20’s responsibility to shape globalization in a way that will benefit everyone. B20 has made its contribution to this year’s process – now it is the G20’s turn,” says Mr. Heraeus. “We look forward to the B20 Summit in Buenos Aires and how the Head of States and Governments will implement the B20’s expertise and experience in the G20 Communiqué.”
The B20 has been the official business dialogue process of the G20 since 2010. During the German G20 presidency 2016/2017, BDI, BDA and DIHK jointly led the B20 Process; Mr. Heraeus served as President of B20 Germany. As the voice of the economy in the G20 countries, the B20 initiates a dialogue between political leaders and civil society.