Home / News & Speeches / ICC says G20 must deliver on new commitments to support growth and jobs

The International Chamber of Commerce (ICC) has responded to the release of the G20 Leaders’ communiqué at the conclusion of the 2015 Antalya Summit.

ICC Secretary General, John Danilovich said:

“The global economy is at a crossroads: GDP growth remains sluggish and youth unemployment stands at a record global average of over 13%. In this context, the business community has consistently called for new G20 commitments on trade, employment and infrastructure. We are delighted to see that these priorities are squarely positioned at the heart of the G20’s new growth agenda.

“Trade flows-which have historically been an important driver of growth and job creation-recorded an unanticipated 6% drop through the first half of this year. New data suggests that protectionism is again on the rise. It’s therefore vital that the good words of the Antalya communiqué now translate into real world action to keep markets open and to make trade easier for small businesses and entrepreneurs. These must not be hollow commitments. An initial test will be whether G20 governments are able to deliver on their commitments to strengthen the multilateral trading system at the WTO’s Ministerial in Nairobi in just one month’s time.

“Action on trade also needs to be coupled with robust measures to support foreign direct investment. We are disappointed that the G20 has again failed to address the issue of supporting international investment flows-including through the development of clearer international investment rules. This must be an absolute priority for world leaders given the trillions of investment required to deliver on the UN Sustainable Development Goals.”

The global economy is at a crossroads: GDP growth remains sluggish and youth unemployment stands at a record global average of over 13%. In this context, the business community has consistently called for new G20 commitments on trade, employment and infrastructure.

Small- and medium-sized businesses have been a core theme of this year’s Turkish Presidency of the G20 and related B20 process.

Mr Danilovich added: “We welcome the special focus placed by the G20 on supporting SME growth. One urgent issue of concern is the financing of small businesses. Recent research shows that the enormous potential of small businesses is being held back by limited access to reasonably priced finance. We stand ready to support implementation of the new G20 commitments to enhance SME access to both short- and long-term financing.

“We welcome the G20’s official recognition of the new World SME Forum: a groundbreaking ICC-led initiative to build capacity within the small business sector and to ensure that the views of small business are taken into account in the development of global policies.”

ICC has also welcomed the G20’s commitment to securing a new global climate agreement at COP21.

Mr Danilovich said: “The G20 has sent a clear and vital signal of its commitment to secure a robust and comprehensive agreement at COP21. We fully support this pledge and call on all governments to ensure that COP21 delivers an agreement that works with the private sector to meet the climate challenge.”

For further information, please contact

  • Andrew WILSON
  • (+33) 1 49 53 30 13 or (+33) 6 70 49 68 74
  • Director, Global Communications