Press release

B20 Bussines Summit

For the first time, the B20 commits companies to global wrowth

Gathered on November 2nd and 3rd 2011, on the eve of the G20 summit in Cannes, the "B20 Bussiness Summit" assembled for the first time 23 representative organizations of companies fro all the G20 countries, thus addressing all major economicand social issues related to globalization along with 150 international bussiness leaders.

During two days of work and debates, the participants were able to exchange with 12 Heads of State, Governments and International Institutions. They handed to the G20 a report encompasing 46 recommendations and commetments from the business community.

Representing 85% of world trade and 90% of world gross national product, the B20 companies are issued of all countries and sectors of activity, large, medium-sized and small enterprises.

The works of the B20 have been held throughout 2011 givin the opportunity to gather more than 500 company representative for work sessions on economic policies, financial regulation, international monetary system, raw materials, ICT and innovation, global governance, energy and green growth.

For the firts time, a joint meting allowed the adoption of a joint statement of the B20 (Bussiness Summit) and the L20 (Labor Summit), showing the desire to establish the foundations for a social dialogue at the G20 leve.

The business community notes with satisfaction that the B20 is officially recognized all the G20 countries(art. 7 and art. 88 of the final Declaration of the G20). The recommendations and commitments of the B20 are, moreover, largely reiterated in the final Declaration of  the G20, in areas as important as the job creation, including through the TPE and SMEs, the social dimension of globalization, the fight against corrupcion, the development of an approach of long-term investment and financing or the development. More broadly, the B20 is committed to developing the principles and practices of social responsability.

The B20 welcomes the commitment of the Sattes to solve the major global imbalances. it greets the adoption of the action plan for growth and employment aimed to restore financial stability and consolidate the fundamental growth.