ICC has released the second issue of the G20 Executive Brief, a newsletter aimed at keeping the organization’s international network and the business community informed of its activities ahead of this year’s G20 Summit.
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ICC has released the first issue of the G20 Executive Brief, a newsletter aimed at keeping the organization’s international network and the business community informed of its activities ahead of this year’s G20 Summit.
Addressing a plenary session of Asia 21, the Korea Ministry of Finance/International Monetary Fund (IMF) conference in Seoul this week, ICC Honorary Chairman Victor Fung told the audience that “Asia can help lead the global recovery from crisis, but countries must avoid the temptation of protectionism. Although the signs are encouraging, the road back to recovery will be longer than we think.”
ICC has expressed concern that proposals to introduce a new framework to limit excessive leverage in the world’s banking system may have unintended, negative consequences on trade finance, and it urged the creation of a special trade finance working group to examine the problem.
The Foundation’s Board of Trustees and International Advisory Council have selected new projects focused on trade and employment to be supported by funds from the Foundation. Work on the following project is already underway and will deliver results during 2010.
The upcoming G20 Summit in London should strongly reject growing protectionist pressures and increase multilateral cooperation to resolve the global financial crisis, ICC Chairman Victor K. Fung told British Prime Minister Gordon Brown yesterday.
ICC Chairman Victor K. Fung called on world leaders to clearly reject all protectionist pressures at the upcoming G20 summit in London.