Shaping a responsible global economy

Digitalisation is one of the key future tasks for the global economy Photo: picture-alliance/dpa/Kahnert

The B20 Summit is the highlight of the B20 process. CEOs and representatives of international organisations will spend two days discussing the outcomes of the B20 process. On 3 May the B20 will present its policy recommendations to the G20 President, Chancellor Angela Merkel, as part of an official ceremony.

The B20 Dialogue Forum will be streamed live on 2 and 3 May. Go to www.g20germany.de for the livestream.

What are the B20's priorities?

The motto of Germany's B20 Presidency in 2017 is "Resilience, Responsibility, Responsiveness". The B20 chair, the businessman Jürgen Heraeus, said: "We need common rules, institutions and cooperation to shape the outcome of globalisation and to ensure that everyone can benefit from the opportunities it presents."

There are huge global challenges, and there is a great need for political action. In addition to the topics it has typically addressed in the past, namely trade, investment and financial markets, the B20 has therefore added digitalisation, climate change and health issues to its priorities. It will also be taking an in-depth look at Africa.

Who are the B20?

The B20 was formed in 2010 as the official forum for business dialogue of the 20 leading industrialised nations and emerging economies. In its capacity as advisory body the B20 supports the G20 when it comes to solving global challenges. The work of this international network is coordinated by business representatives of that country which holds the G20 Presidency.

The B20 speaks with one voice for the business community in all G20 countries – from the industrial to the financial sector, from SMEs to big business. More than 700 representatives from business and associations take part each year. The members of the B20 decide by consensus on which recommendations to present to the G20.

In 2017, the year in which Germany holds the G20 Presidency, leading German business associations are responsible for organising the B20: the Federation of German Industries (BDI), the Confederation of German Employers' Associations (BDA) and the Association of German Chambers of Industry and Commerce (DIHK).

How does the B20 work?

The country holding the rotating G20 Presidency is responsible for the B20 agenda and organisational matters. The B20 Presidency, appointed by the respective G20 Presidency, represents the whole of the G20 business community and is an integral part of the G20 process. The B20 promotes dialogue between policymakers, civil society and business at international level.

In the context of the B20, business representatives from the G20 countries develop joint recommendations and advocate specific policy actions across the entire G20 agenda. The B20 also organises a number of events and provides a platform for exchange with governments and other stakeholders in the G20 process.

What can the B20 achieve?

Business representatives from the G20 countries engage in regular exchange, consolidate their interests and advocate common positions. The B20 thus promotes understanding and networking. Also, the G20 are reliant on the expertise and practical experience of the business sector when it comes to pinpointing the right courses of action.

The majority of B20 recommendations are incorporated into G20 resolutions. Explicit mention is generally also made of the B20's recommendations in the G20 declarations. For example, the B20 contributed to the G20's decision to launch numerous initiatives to improve SME access to financing.

Friday, 28 April 2017

to the top