Global governance

Business and the global economy

  • 11 November 2016

The International Chamber of Commerce (ICC), the world business organization, is pleased to submit this statement to the Heads of State and Government attending the G8 Summit at Gleneagles, UK (6-8 July 2005). The statement addresses a number of issues of particular importance to world business, with the focus on promoting the conditions that enable developing countries to benefit from the opportunities offered by the global economy.

1.The ingredients of development

ICC welcomes the inclusion of economic development on the agenda of the Gleneagles Summit, and we are especially pleased to note that Africa will once again be the focus three years after the G8 heads of state and government adopted the Action Plan for Africa at Kananaskis.

2.Doha trade negotiations at the crossroads

World business believes strongly that the rules-based multilateral trading system, managed through the World Trade Organization (WTO), is one of the central pillars of international cooperation.

3.Intellectual property and innovation

ICC firmly believes that the protection of intellectual property (IP) encourages research and innovation, international trade and investment, and sound economic growth and development.

4.Climate change

ICC recognizes that climate change risks are a major long-term concern. Business is actively addressing climate change by measuring and reporting greenhouse gas emissions from facilities and products, by investing in energy efficiency and conservation, and by undertaking research to develop advanced, innovative new technologies and processes with reduced greenhouse gas emissions.